Multiple choice

The population of Mumbai increase $5\%$ per annum, its population was $1000000$ in $2004$. What was it's population after $3$ year?

  1. $ 1157625$
  2. $123575$
  3. $132557$
  4. $11000$
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A Correct answer
Explanation

The population after 3 years is calculated using the compound interest formula: P * (1 + r/100)^n. Here, 1000000 * (1.05)^3 = 1000000 * 1.157625 = 1157625.

AI explanation

Using the formula for compound population growth, Final Population = P * (1 + R/100)^T, we substitute the given values. The principal population P is 1000000, the rate R is 5 percent, and the time T is 3 years. The calculation becomes 1000000 * (1 + 5/100)^3, which equals 1000000 * (21/20)^3. Multiplying 1000000 by 9261/8000 gives the final population of 1157625.

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