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    Question

    The population of a town increases by 2.5% annually but

    it decreases by 0.5% every year due to migration. What will the percentage increase in two years be?
    A 4% Correct Answer Incorrect Answer
    B 4.04% Correct Answer Incorrect Answer
    C 3.04% Correct Answer Incorrect Answer
    D 3.14% Correct Answer Incorrect Answer

    Solution

    The net annual growth rate is 2.5% − 0.5% = 2% Let the initial population be PPP. After 2 years = P × (1.02)2 = P × 1.0404 Percentage increase = (1.0404 − 1) × 100 = 4.04%

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