Question Details

The population of country is 10 crores at present and is expected to grow to 17.28 crores in the next three years. Neglecting the death rate, the uniform annual percentage rate of growth is:

Options

A

11

B

20

C

10

D

12

Show Answer

Correct Answer :

Option B

20

Solution :

The correct answer is 20.


Step-by-step Explanation:

Let the present population be P0, the population after n years be Pn, and the annual percentage rate of growth be r%.


From the given problem, we have:

Present population (P0) = 10 crores

Population after 3 years (P3) = 17.28 crores

Time period (n) = 3 years


The formula for population growth compounded annually is given by:

Pn=P0(1+r100)n


Substitute the given values into the formula:

17.28=10(1+r100)3


Divide both sides by 10:

17.2810=(1+r100)3

1.728=(1+r100)3


Now, take the cube root of both sides. Since 1.23=1.728:

1.2=1+r100


Subtract 1 from both sides:

0.2=r100


Multiply by 100 to solve for r:

r=0.2×100=20


Thus, the uniform annual percentage rate of growth is 20%.

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