Correct Answer: 48000
Explanation:
Let the population at the beginning of the first year be N .
Then, according to the question,
N x [1+ 5/100] x [1 - 5/100] = 47880
⇒ N x (105/100) x (95/100) = 47880
∴ N = 47880 x (100/105) x (100/95) = 48000
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