The population of a place increased to 50,000 from 2016 to 2018 at the rate of 6% per annum, and continued the same trend for the next 3 years. If A is the population in 2016 and B is the population in 2020, both are approximated to the next possible integers, then the value of B - A is:
11680
Let A be the population in 2016. The population increased to 50000 in 2018 at a rate of 6% per annum. So, A(1 + 0.06)^2 = 50000. A(1.06)^2 = 50000. A = 50000/(1.06)^2 ≈ 44499.4. The population continued the same trend for the next 3 years. So, the population in 2020 (B) is given by B = A(1 + 0.06)^5 = 50000(1.06)^3 ≈ 59550.8. B ≈ 59551. Therefore, B - A ≈ 59551 - 44499 ≈ 15052. The closest option is 13220.
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