Question

The number of trucks registered in a city increases by 10% each year. Initially, there were 100 trucks registered. There were 110 trucks registered at the end of Year 1.
What is the number of trucks registered in the city at the end of Year 8?

Answer 1

Answer:

The total number of trucks registered in the city at the end 8 years is 214.35

Solution:

Registered trucks are increasing at $10\%$ rate.

So the increasing rate is = 0.1

The initial value of the truck is = 100

We need to solve the number of trucks after 8 years,

Hence, time = 8

We know the equation is $N=a(1+b)^{t}$

Here N is the total amount after t years, t is time, a is the initial truck and b is the rate of increase.

So putting the values in the equation, we get,

$\Rightarrow N=100(1+0.1)^{8}$

$\Rightarrow N=100 \times(1.1)^{8}$

$\Rightarrow N=100 \times(1.1)^{8}$

$\Rightarrow N=100 \times 2.1435$

N = 214.35

So, the total number of trucks at the end of 8 years is 214.35