Given Information:
Population rate = 7.5 %
Current population = p
Required Information:
Population next year = ?
Answer:
Population next year = 1.075p
Step-by-step explanation:
The rate of increase in the population is given as 7.5 %
We know that the current population is equal to p
The population in the next year would be the sum of current population and 7.5 % of current population.
Population next year = current population + 7.5% of current population
Population next year = p + 7.5% of p
Population next year = p + 0.075*p
Population next year = p(1 + 0.075)
Population next year = p(1.075)
Population next year = 1.075p