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Question
The number of members of a club is increased by 10% every year. If the initial number of the members is 500, then what will be the number at the beginning of the third year?
Options
610
615
620
605
MCQ
Solution
605
Explanation:
No. of Members initially = 500
Increasing Rate = 10% per year
Time = 2 year
No. of people after 2 years `= "P"[1+"r"/100]^2`
`"A"=500[1+10/100]^2=500xx121/100`
= 605
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Simple and Compound Interest (Entrance Exam)
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