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The population of a new city is 5 million and is growing at 20% annually. How many years would it take to double at this growth rate?
- a)3-4 years
- b)4-5 years
- c)5-6 years
- d)6-7 years
Correct answer is option 'A'. Can you explain this answer?
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The population of a new city is 5 million and is growing at 20% annual...
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The population of a new city is 5 million and is growing at 20% annual...
Population Growth Rate:
The population of the new city is growing at a rate of 20% annually. This means that the population is increasing by 20% of its current value every year.
Calculating the Population after 1 Year:
To calculate the population after 1 year, we can use the formula:
Population after 1 year = Population * (1 + Growth Rate)
= 5 million * (1 + 0.20)
= 5 million * 1.20
= 6 million
Calculating the Population after 2 Years:
To calculate the population after 2 years, we can use the formula:
Population after 2 years = Population after 1 year * (1 + Growth Rate)
= 6 million * (1 + 0.20)
= 6 million * 1.20
= 7.2 million
Calculating the Population after 3 Years:
To calculate the population after 3 years, we can use the formula:
Population after 3 years = Population after 2 years * (1 + Growth Rate)
= 7.2 million * (1 + 0.20)
= 7.2 million * 1.20
= 8.64 million
Observation:
From the calculations, we can observe that the population doubles between the second and third year. In the second year, the population is 7.2 million, and in the third year, it becomes 8.64 million.
Answer:
Therefore, it would take approximately 3-4 years for the population to double at a growth rate of 20% annually.
The population of the new city is growing at a rate of 20% annually. This means that the population is increasing by 20% of its current value every year.
Calculating the Population after 1 Year:
To calculate the population after 1 year, we can use the formula:
Population after 1 year = Population * (1 + Growth Rate)
= 5 million * (1 + 0.20)
= 5 million * 1.20
= 6 million
Calculating the Population after 2 Years:
To calculate the population after 2 years, we can use the formula:
Population after 2 years = Population after 1 year * (1 + Growth Rate)
= 6 million * (1 + 0.20)
= 6 million * 1.20
= 7.2 million
Calculating the Population after 3 Years:
To calculate the population after 3 years, we can use the formula:
Population after 3 years = Population after 2 years * (1 + Growth Rate)
= 7.2 million * (1 + 0.20)
= 7.2 million * 1.20
= 8.64 million
Observation:
From the calculations, we can observe that the population doubles between the second and third year. In the second year, the population is 7.2 million, and in the third year, it becomes 8.64 million.
Answer:
Therefore, it would take approximately 3-4 years for the population to double at a growth rate of 20% annually.
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The population of a new city is 5 million and is growing at 20% annually. How many years would it take to double at this growth rate?a)3-4 yearsb)4-5 yearsc)5-6 yearsd)6-7 yearsCorrect answer is option 'A'. Can you explain this answer?
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