The population of a place increased to 54,000 in 2003 at a rate of 5% per annum

(i) find the population in 2001.

(ii) what would be its population in 2005?

(i) Here, A₂₀₀₃ = Rs. 54,000, R = 5%, n = 2 years

Population would be less in 2001 than the population in 2003.

Here the population is increasing.

⇒ P₂₀₀₁ = 48,980 (approx.)

(ii) According to question, population is increasing. Therefore population in 2005,

= 59,535

Hence, population in 2005 would be 59,535.