Solutions
Get detailed explanations to advanced GMAT questions.
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
Related Questions
- All of the 540 people who attended an education convention were either teachers or administrators. There…
- At Company X senior sales representatives visit the home office once every 30 days, and junior sales…
- A grocery store purchased crates of 40 oranges each for $5.00 per crate and then sold each orange for $0.20. What was the store’s gross profit on each crate of oranges?
- How many positive three-digit integers are divisible by both 3 and 4?
- If 2s > 8 and 3t < 9, which of the following could be the value of s-t?