The population of a town increases every year by 4%. If its present population is 50,000, then after 2 years it will be _____?
Answer: 54,080
Explanation
Let's calculate the population after 2 years:
Year 1:
Population = 50,000 + (4% of 50,000)
= 50,000 + 0.04 * 50,000
= 50,000 + 2,000
= 52,000
Year 2:
Population = 52,000 + (4% of 52,000)
= 52,000 + 0.04 * 52,000
= 52,000 + 2,080
= 54,080
The population after 2 years will be 54,080.
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