# Word Problem

Problem : The population of a town increases at the rate of 5% every year. The population is 8000. In how many years it becomes 9261?

a. 2 years                      b. 3 years                 c. 4 years              d.3-1/ 2 years

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Solution :

This problem involving compound interest.

Here we are given;

R=Increase rate=5%

P=Present Population= 8000

A= Increased Population=9261

T= time duration for increase=?

We will use the formula of compound interest calculation;

Putting values of variables in this formula;

Taking logarithm on both sides;

So, population became 9261 in time of three years.

Insert math as
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