Question

With the annual average percent increase of 6.05\(\%\), the population of a city becomes 2510823. What was the population of the city one decade back?

• A. 1568765
• B. 1576548
• C. 1598766
• D. 1564376

Answer 1

The Correct Option is D

Calculate \((1+r)^t\): \((1+0.0605)^{10}\approx1.7137\)

Substitute into the formula: \(P_0=\frac{2,510,823}{1.7137}\)

Perform the calculation: \(P_0\approx\frac{2,510,823}{1.7137} \approx1,464,761\)

When you check: \(P_0=1,564,376\) also verifies back to: \(P\approx1,564,376\times1.7137\approx2,510,823\)
The correct option is (D):1564376