If the number of school going children in a town is 64000 and it is increasing annually by 10%, then what will be the number of school going children in the town at the end of 3 years?
Correct Answer :
85184
Solution :
The correct option is 85184.
Let's solve the problem step-by-step using the formula for compound growth, which is similar to the compound interest formula.
We are given the following values:
- Initial number of school-going children,
- Annual growth rate,
- Time period, years
The formula to find the population after years at an annual growth rate of is:
Substitute the given values into the formula:
Simplify the term inside the brackets:
Now, calculate the expression with the exponent:
Evaluate :
Multiply the initial population by the growth factor:
Thus, the number of school-going children in the town at the end of 3 years will be 85184.
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