The population of a town is 1058400. if it increase at the rate of 5% per annum, then find the population of the town 2 yr ago.
Correct Answer: 960000
Explanation:
Given that,
p = 1058400, R = 5% and n = 2
According the formula,
Population n yr ago = P/(1 + R/100) n
∴ Population 2yr ago = 1058400/(1+ 5/100)2
= 1058400 x 20/21 x 20/21 = 960000
