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100 points for $49 worth of Veritas practice GMATs FREE VERITAS PRACTICE GMAT EXAMS Earn 10 Points Per Post Earn 10 Points Per Thanks Earn 10 Points Per Upvote ## If a town of 25,000 people is growing ##### This topic has 1 expert reply and 1 member reply ### Top Member ## If a town of 25,000 people is growing 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 Master | Next Rank: 500 Posts Joined 29 Nov 2017 Posted: 100 messages Upvotes: 14 Top Reply 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 ### GMAT/MBA Expert GMAT Instructor Joined 04 Oct 2017 Posted: 551 messages Followed by: 11 members Upvotes: 180 Top Reply 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 A=26,000. I hope this can help you. I'm available if you'd like a follow-up. Regards. _________________ GMAT Prep From The Economist We offer 70+ point score improvement money back guarantee. Our average student improves 98 points. Free 7-Day Test Prep with Economist GMAT Tutor - Receive free access to the top-rated GMAT prep course including a 1-on-1 strategy session, 2 full-length tests, and 5 ask-a-tutor messages. Get started now. • Free Practice Test & Review How would you score if you took the GMAT Available with Beat the GMAT members only code • 5 Day FREE Trial Study Smarter, Not Harder Available with Beat the GMAT members only code • 5-Day Free Trial 5-day free, full-access trial TTP Quant Available with Beat the GMAT members only code • 1 Hour Free BEAT THE GMAT EXCLUSIVE Available with Beat the GMAT members only code • Magoosh Study with Magoosh GMAT prep Available with Beat the GMAT members only code • Free Trial & Practice Exam BEAT THE GMAT EXCLUSIVE Available with Beat the GMAT members only code • Award-winning private GMAT tutoring Register now and save up to$200

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