If the population of a town is $10{,}000$ and grows at $5\%$ per annum compounded annually, the population…
If the population of a town is $10{,}000$ and grows at $5\%$ per annum compounded annually, the population after $2$ years is
- $10{,}500$
- $11{,}000$
- $11{,}025$
- $11{,}500$
Solution
$A = 10000 \times (1.05)^{2} = 10000 \times 1.1025 = 11025$.
Asked in: IMO
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