Question

If the population of a town was 240,000 in January 1998 and it increased by 2 percent each year,what will be the population of the town in January 2000?

Answer 1

`249696`

Explanation:

You can look up the formula for a constant increase, but in this case there are only two years. Each year the important thing is to remember to use the CURRENT population value, not the original one. The formula takes care of that for you.

1998 to 1999:
Increase: `240000 xx 0.2 = 4800`
NEW Population: `240000 + 4800 = 244800`

1999 to 2000:
Increase: `244800 xx 0.2 = 4896`
NEW Population: `244800 + 4896 = 249696`

Answer 2

`249696`

Explanation:

`"to calculate population growth (P) use"`

`•color(white)(x)P=P_0(1+r/100)^t`

`"where "P_0" is the initial population"`

`r" is the growth rate and "n" is time"`

`"Jan 1998 "to" Jan 2000 "=2" years"`

`"here "P_0=240000,r=2" and "t=2`

`P=240000(1+2/100)^2`

`color(white)(P)=240000(1.02)^2=249696`