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
If a town of 25,000 people is growing
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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.
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.
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Since he is talking of approx 1%, we need not calculate exact figure.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
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
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After 1 year, the population will be:BTGmoderatorDC 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
25,000 + 250 = 25,250
After 2 years, the population will be:
25,250 + 252 = 25,502
After 3 years, the population will be:
25,502 + 255 = 25,757
So essentially, we see that the population growth is a little more than 250 people a year.
25,000 + 250 x 5 = 26,250, so about 26,000.
Alternate solution:
The population of the town in 5 years is:
25,000 x (1 + 0.01)^5 = 25,000 x 1.01^5 = 26,275, which is closest to 26,000.
Answer: A
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