If the annual decrease in the population of a city is 8%& the present number of people is 80 lakhs ,what will be the population after 3 years?

Question

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?

Answer 1

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