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The population of Mumbai increase $5 %$ per annum, its population was $1000000$ in $2004$ . What will be its population after $3$ years?

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1157625

123575

132557

11000

answer is A.

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Detailed Solution

It is given that in 2004 the population was 1000000 and it increases by 5% per annum.
Population after

3

years

= P {(1 + \frac{r}{100})}^{n}

\Rightarrow

Population after

3

years

= 1000000 {(1 + \frac{5}{100})}^{3}

\Rightarrow

Population after

3

years

= 1000000 {(1 + \frac{1}{20})}^{3}

\Rightarrow

Population after

3

years

= 1000000 {(\frac{21}{20})}^{3}

\Rightarrow

Population after

3

years

= 1000000 \times \frac{9261}{8000}

\Rightarrow

Population after

3

years

= 1157625

So, the population after 3 years is 1157625.
Hence, the correct option is 1.

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The population of Mumbai increase 5% per annum, its population was 1000000 in 2004. What will be its population after 3 years?

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The population of Mumbai increase $5 %$ per annum, its population was $1000000$ in $2004$ . What will be its population after $3$ years?