Question
The population of a city is 3,52,314. It increases
annually at the rate of 15% per annum.What was its population 2 years ago?Solution
Let, The population 2 years ago = X Increase rate of population = 15% Population after 1 year = 1.15x Population after 2 year = 1.15 x 1.15x = 1.3225x Given, After 2-year population is = 352314 1.3225x = 35314 =352314/1.3225 x = 266400
Law of diminishing returns only applies to cases where
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