Multiple choice

In a country, the population of a village rose to 2420 from 2000 in two years. Find the rate of growth per annum.

  1. 10%

  2. 12%

  3. 15%

  4. 18%
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A Correct answer
Explanation

Population growth follows compound interest: P_final = P_initial × (1 + r)^t. Here 2420 = 2000 × (1 + r)^2, so (1 + r)^2 = 1.21, giving 1 + r = 1.1 or r = 10%. Each year the population grows by 10% of the previous year's population, compounded annually.

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