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JAMB Mathematics 2000 Question 2

Question 2

Ratio, Percentages and Rates

If the population of a town was 240 000 in January 1998 and it increased by 2% each year, what would be the population of the town in January 2000?

  1. A.480 000
  2. B.149 696
  3. C.249 600
  4. D.244 800
Show the answer and explanation

Answer: C (249 600)

Explanation

After one year: 240 000 × 1.02 = 244 800. After two years: 244 800 × 1.02 = 249 696, which is closest to option C (249 600).