Question

The population of a place increased to 54,000 in 2003 at a rate of 5% per annum. what would

Answer 1

Answer:

The population in 2005 is 59,535 people.

Step-by-step explanation:

Annum means annually or yearly. We assume the rate has been consistent. To calculate percentage, take the percent in decimal form. 5% is 0.05 (like 17% is 0.17, and 50% 0.5). 5% is actually 5 hundredths of a number. Multiply this by the number you want the percentage of. 54,000*0.05=2,700. This is how much the population grows from 2003 to 2004.

There is a very common mistake people make after this, which is simply doubling that number and adding to the population. This is incorrect because if it grows 5% yearly, the yearly population CHANGES. The question would change if it were 2004 to 2005. Ask your teacher for clarification if this sounds wrong (if it is, do what I said above, the answer would be 59,400 people).

So, the population in 2004 is 54,000+2,700=56,700. Now, find 5% of the population in 2004 using the same method as before. 56,700*0.05=2,835. Add the growth to the pervious population. 56,700+2,835=59,535.

The population in 2005 is 59,535 people.