Discussion
The population of a town is increasing at the rate of 6% per annum. It was 238765 in the year 2018. Find the population of the year 2020.
Answer: B
A town growing at 6% a year from 238765 has in 2020 a population of \(238765\times1.06\times1.06=268276\) (about), option B.
286726 and 286722 reverse the digits, and 212500 is far below even the 2018 figure plus growth.
Compound growth uses the multiplier 1.06 each year. The first year gives 253,091.9 and the second year 268,277.4, which the question rounds to 268,276 in the options. The two options 286,726 and 286,722 are transpositions that a careless calculation could produce.
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