Solutions
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Question
If a town of 25,000 people is growing at a rate of approximately 1 percent per year, the population of the town in 5 years will be closest to
Option A:
26000
Option B:
27000
Option C:
28000
Option D:
29000
Option E:
30000
Difficulty Level
EasySolution
Option A is the correct answer.
Option Analysis
Given that 25,000 people are there and they increasing at the rate of 0.01
We need to find:
25000(1.01)^5 = 25000(1+0.01)^5
If x is tiny, (1+x)^y is approximately 1+xy (1+0.01)^5
= 1+0.05
= 1.05 25000(1.05)
= 26250
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