If the annual decrease in the population of a city is 8% and the present number of people is 80 lakhs, what will be the population after 3 years?
Here we can use the compound interest based formula,
Population after n years = P*[1 - (r/100)]n
Population after 3 years = 8000,000*[1-(8/100)]3
Calculating we get,
Population after 3 years = 6229504