Question

The population of a town is 1,00,000 and its annual increase is 10%, then the correct population at the end of 3 years is 
1. 1,33,000
2. 1,33,111
3. 1,33,100
4. 1,44,400

Answer 1

Correct Answer - Option 3 : 1,33,100

Given 

The present population of town = 1,00,000 

Formula Used 

Successive percentage = actual value × {(100 + percentage%)/100)}^t  (where t = time) 

Calculation 

Population after 3 years = 1,00,000 (11/10)³ 

⇒ 1,00,000 × 1331/1000 = 1,33,100

∴ The population after 3 years is 133100