The population of a city increases 5% annually in compounded manner (yearly compounding). The present population of this city is 93051. The population of this city 2 years ago was:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 84400
Given:
Present population = 93051
Percentage increase = 5% per year
Formula Used:
Explanation:
According to the given question,
Let the population before 2 years be x.
Now,
⇒ x = = 84400
Hence the required answer is 84400.