# The population of a town increases every year by 4%. If its present population is 50,000, then after 2 years it will be

A. 53,900

B. 54,000

C. 54,080

D. 54,900

**Answer: Option C **

__Solution(By Examveda Team)__

Here we can use the compound interest based formula,$$\eqalign{ & {\text{Population after }}n{\text{ years}} \cr & = P \times {\left[ {1 + {\frac{r}{{100}}} } \right]^n} \cr & {\text{Population after 2 years}} \cr & = 50000 \times {\left[ {1 + {\frac{4}{{100}}} } \right]^2} \cr} $$

Population after 2 years = 54080

**Alternatively,**

we can use, net percentage change graphic as well,

**50,000------4%↑---→ 52,000---- 4%↑---→ 54,080.**

Then, population after 2 years= 54,080.

In this calculation, we need to find 1% of 50,000 first, which is easily calculated by dividing 50,000 by 100.

## Join The Discussion

## Comments ( 9 )

Related Questions on Percentage

A. $$\frac{1}{4}$$

B. $$\frac{1}{3}$$

C. $$\frac{1}{2}$$

D. $$\frac{2}{3}$$

Fayezur good method

4% of 50000 = 2000

so, 2000+50000 = 52000

4% of 52000 = 2080

so, 2080+52000 = 54080

Morning, ଶୁଭ ସକାଳ

Good method

1 year increase is= 4/100*50000= 2000. now add 2000 and 50000 will be 52000. again 4/100*52000= 2080. now add 2080 with 52000 will 54080

he did not mention whether it is simple or compound interest

I think this solution is correct.

Mian,u r wrong.

wrong answer

2year% is 4000

50,000+4000=54000

how its possible as in second there is 54000 answer and in first there is 54080

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