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urban planners

by gmatnmein2010 » Sat Feb 20, 2010 3:47 am
Boomtown urban planners expect the city's population to increase by 10% per year over the next two years. If that projection were to come true, the population two years from now would be exactly double the population of one year ago. Which of the following is closest to the percent population increase in Boomtown over the last year?


1)20%


2)40%


3)50%


4)65%


5)75%
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by ajith » Sat Feb 20, 2010 3:57 am
gmatnmein2010 wrote:Boomtown urban planners expect the city's population to increase by 10% per year over the next two years. If that projection were to come true, the population two years from now would be exactly double the population of one year ago. Which of the following is closest to the percent population increase in Boomtown over the last year?


1)20%


2)40%


3)50%


4)65%


5)75%
Let the current population be y and last years population be x

1.21y = 2x

x = 0.605 y

Population increase = (y-0.605 y)/0.605 y*100 = 0.395*100/.605 approx 65%
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by shashank.ism » Sat Feb 20, 2010 9:06 am
gmatnmein2010 wrote:Boomtown urban planners expect the city's population to increase by 10% per year over the next two years. If that projection were to come true, the population two years from now would be exactly double the population of one year ago. Which of the following is closest to the percent population increase in Boomtown over the last year?
1)20%
2)40%
3)50%
4)65%
5)75%
let this year population be x
next year 1.1x [increase by 10% per year]
next 2 years 1.21x [increase by 10% per year]
last year = 1.21x/2 =0.605x

percent population increase in Boomtown over the last year = (x-0.605x)/0.605x =[spoiler] 65.28 % approx 65%Ans4[/spoiler]
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