A town’s population was 50,000 in 2020. If it grows by 8% annually, what will be the population in 2021?
Answer: 54000
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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