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
- If both x and y are nonzero numbers, what is the value of y/x?
- All of the 540 people who attended an education convention were either teachers or administrators. There…
- When the even integer n is divided by 9, the remainder is 8. Which of the following, when added to n…
- Color X ink is created by blending red, blue, green and yellow inks in the ratio 6:5:2:2. What is the number…
- If the average (arithmetic mean) of the assessed values of x houses is $212,000 and the average of the…