The present population of the city is estimated to be 10 lakh and is expected to increase to 12.10 lakh during the next 2 years. The uniform annual rate of growth is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e.10%.
Given that
The current population of the city is 10 lakhs
In the next 2 years, it will increase to 12.10 lakhs
Let the uniform annual rate of growth be r%
According to the question;
The Increased population after 2 years = The current population × (100 + r)/100 × (100 + r)/100
⇒ 12.10 = 10 × (100 + r)/100 × (100 + r)/100
⇒ (100 + r)2 = 12100
⇒ 100 + r = 110
⇒ r = 110 - 100 = 10%