The population of a town was 62,500 two years ago. It increases every at the rate of 4% per annum. Find it's present population .

Dear Student,

Here, we are squaring (1+(4/100), as the difference between the given population and present population, is 2 years and the rate of increment in population is 4% per annum

$$\begin{gathered} Population 2 years ago = 62500 \\ Rate of increase = 4\% per annum \\ Therefore, \\ Present Population = 62500 (1 +\frac{4}{100}{)}^2 \\ = 62500*(\frac{26}{25}{)}^2 \\ = 62500 * \left(\frac{676}{625}\right) \\ = 100 * 676 \\ = 67600 \\ Hence, the present population of the town is 67600. \end{gathered}$$

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