Math exercise

Question

The population of a country has a growth rate of 3%. The government wants to reduce the growth rate to 2%. In 1995, the population was 110 million. Find the population in 2020 if: (a) the population continues to increase at 3% per year. (b) the population is reduced to an increase of 2% per year.

Answer 1

The growth rate formula is 

 

P(t) = P₀*(1+r)^t  where 

 

P₀ = original population (110 million)

r = growth rate as a decimal (0.02 or 0.03) 

t = time (2020 - 1995 = 25 years)  

 

If r = 3% then P(25) = 110*(1.03)²⁵ ~ 230.31 million  

If r = 2% then P(25) = 110*(1.02)²⁵ ~ 180.47 million