The population of a suburb is 16000. Find the rate of increase in the population if the population after two years is 17640.
Present Population (P) = 16000/-, Rate = R% (p.c.p.a), Duration (n) = 2 years
Population after 2 years (A) =17640/-
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∴R= 5%
∴ The population of that suburb will increase at the rate of 5% .
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