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The population of a town is 1058400. if it increase at the rate of 5% per annum, then find the population of the town 2 yr ago.
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- 949000
- 930000
- 960000
- 950000
- None of the above
Correct Option: C
Given that,
p = 1058400, R = 5% and n = 2
According the formula,
Population n yr ago = P/(1 + R/100) n
∴ Population 2yr ago = 1058400/(1+ 5/100)2
= 1058400 x 20/21 x 20/21 = 960000
