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Question
There is a continuous growth in population of a village at the rate of 5% per annum. If its present population is 9261, what it was 3 years ago?
Solution
Population after three years = P \[\left( 1 + \frac{R}{100} \right)^n \]
\[9, 261 = P \left( 1 + \frac{5}{100} \right)^3 \]
\[9, 261 = P \left( 1 . 05 \right)^3 \]
\[P = \frac{9, 261}{1 . 157625}\]
\[ = 8, 000\]
Thus, the population three years ago was 8, 000.
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