Problem Solving

Hello lheiannie07.

Let's take a look at your question.

The population at the beginning is 25,000.

After 1 year the population would be equal to 25,000*0.01+25,000 = 25,000*1.01= 25,250.

After 2 years the population would be equal to 25,250*0.01 + 25,250 = 25,250*1.01 = 25,502.5.

After 3 years the population would be equal to 25,502.5*1.01= 25,760.555.

After 4 years the population would be equal to 25,760.555*1.01 = 26,018.16055.

And finally, after 5 years the population would be equal to 26,018.16055*1.01 = 26,278.3421.

So, the correct answer is [spoiler]A=26,000[/spoiler].

I hope this can help you.

I'm available if you'd like a follow-up.

Regards.

lheiannie07 wrote:If a town of 25,000 people is growing at a rate of approx. 1% per year, the population of the town in 5 years will be closest to?

a.26000
b.27000
c.28000
d.29000
e.30000

How can i find the best solution in this? Can some experts help?

OA A

Since he is talking of approx 1%, we need not calculate exact figure.
Increase at a rate of approx 1% i.e. approx 250 per year for five years would be would be 1250
hence population would be close to 26250
Hence option A is correct