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A town’s population was 50,000 in 2020. If it grows by 8% annually, what will be the population in 2021?
  1. 52000
  2. 54000
  3. 50800
  4. None of these
Explanation

Population in 2020 = 50,000

Growth rate = 8%

Increase = 8% of 50,000

= 0.08 × 50,000

= 4,000

Population in 2021 = 50,000 + 4,000

= 54,000

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