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If the current population of Chennai is 3888180 and the average rate of population growth in Chennai city is 10% p.a., what can city planners expect the population of Chennai to be after 10 years?

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10784567

11926823

11337289

10084772

answer is D.

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Detailed Solution

Concept- The question is asked in the form of compound interest style. Therefore, we will solve it using the formula for compound interest and final amount which is,

C . I = A - P

and

A = P {(1 + \frac{R}{100})}^{N}

respectively.
Given is that:
Current population = 3888180
That means:

P (initial population) = 3888180

Growth rate is 10%
That means:

R = 10 %

Population after 10 years is supposed to be:
Therefore:

N = 10

Putting the above values in the formula

P {(1 + \frac{R}{100})}^{N}

, we can find the population after 10 years.
Let’s assume the Population after 10 years to be

P_{1}

. Then:

P_{1} = P {(1 + \frac{R}{100})}^{N}

= 3888180 {(1 + \frac{10}{100})}^{10}

= 3888180 {(1.1)}^{10}

= 3888180 \times 2.5937

P_{1} = 10084772

Population after 10 years will be 10084772
Hence, the correct option is 4.

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