Question : The population of a town increases at the rate of 20% per annum. If the town's population will be 69,120 after 2 years, then what is the town's present population?
Option 1: 48,000
Option 2: 42,000
Option 3: 40,000
Option 4: 36,000
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Correct Answer: 48,000
Solution : Use the formula: Amount = P[$(1+\frac{r}{100})^n$] where P is principal, $r$ is the rate of interest compounded annually for $n$ years. The population increases at the rate of 20% per annum, ⇒ 69,120 = P[$(1+\frac{20}{100})^2$] ⇒ 69,120 = P$(\frac{6}{5})^2$ ⇒ P = $\frac{69120×25}{36}$ ⇒ P = 48,000 Hence, the correct answer is 48,000.
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Question : If the population of a town is 12,000 and the population increases at the rate of 10% per annum, then find the population after 3 years.
Option 1: 15,972
Option 2: 12,200
Option 3: 11,200
Option 4: 10,200
Question : The population of a village decreases at the rate of 40% per annum. If its population 2 years ago was 15,000, then find the present population.
Option 1: 5400
Option 2: 3500
Option 3: 4450
Option 4: 4400
Question : At what rate of compound interest (compounding annually) per annum will a sum of Rs. 250000 becomes Rs. 275625 in 2 years?
Option 1: 8% per annum
Option 2: 3% per annum
Option 3: 10% per annum
Option 4: 5% per annum
Question : Raja borrowed INR 15,000 on simple interest at the rate of 13% per annum and lent it on compound interest at the rate of 15% per annum, compounded annually. What is Raja's gain in two years?
Option 1: INR 1,080.00
Option 2: INR 1,125.00
Option 3: INR 937.50
Option 4: INR 865.50
Question : At a certain rate of interest per annum, compounded annually, a certain sum of money amounts to two times itself in 11 years. In how many years will the sum of money amount to four times itself at the previous rate of interest per annum, also compounded annually?
Option 1: 20 years
Option 2: 5.5 years
Option 3: 22 years
Option 4: 33 years
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