Question
The population of a town is 80,000. It increases by 8%
in the first year and by 7% in the second year. What is the population at the end of 2 years?Solution
Initial population = 80,000 After 1st year (increase 8%): Population = 80,000 × 1.08 = 86,400 After 2nd year (increase 7%): Population = 86,400 × 1.07 = 86,400 × 1.07 = 86,400 + 0.07 × 86,400 = 86,400 + 6,048 = 92,448
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