The population of a town is 2,24,375. If it increases at the rate of 4% per annum, what will be its population 2 years hence?

Correct option is A

Given:

Population = 2,24,375

​$r$ = growth rate (4% = 0.04)​

t = 2

Formula used:

​$$P_t = P_0(1+r)^t$$​​

Solution:

​$$P_t = P_0(1+r)^t$$

= 224,375 $$\times$$ $$(1.04)^2$$ 

= 224,375 $$\times$$ 1.0816

= 242684

Thus,  Population after 2 years is 242684

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