The population of a town is increasing at a rate of 1. 4% annually. The current


population of the town is 2000. Calculate the population of the town after 10


years.


Answer :

Answer:

2280 people

Explanation:

Firstly, you will divide 2000 with 100 to get the value for 1%

2000 : 100 = 20

Then, multiply the value of 20 with 98,6% (because 100 - 1,4 = 98,6)

20 x 98,6 = 1972

After that, subtract the value of 1972 from 2000

2000 - 1972 = 28

Because we need the population after 10 years, now multiply the value of the 1,4% of the population by 10

28 x 10 = 280

Add the current population of 280 and you will get the estimated population after 10 years.

2000 + 280 = 2280

After 10 years, the population of town would be 2298 with growth rate of 1.4% annually.

What is population?

An entire set of people is referred to as a population, regardless of whether that set includes an entire country or just a number of people who share a certain trait.

In statistics, the group of people from which a statistical sample is taken for a study is referred to as a population. So, a population can be defined as any group of people who have something in common. In addition to a population as a whole, a sample can also be defined as a statistically significant subset of a population.

The approximate standard deviation, or standard error, of the results from the entire population must be reported in a statistical analysis of a sample for this reason. Standard error would not exist except in analyses of entire populations.

To find the answer we will use the compound formula

A = P(1 +r)ⁿ

Where,

A =  final population

P = current population

r =  rate of growth

n = no. of years

Substituting the values to the formula we get

A = 2000(1 +0.014)¹⁰

A = 2298

Thus, After 10 years the population of town would be 2298 with growth rate of 1.4% annually.

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