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The population of a town increases by 8% every year. If the present population of the town is 14,580, then what was the
population of the town 2 years ago?
13,600
12,200
13,765
12,500
- The town's population grows by 8% annually.
- The current population is 14,580.
- To find the population two years ago, we need to reverse the 8% increase for two years.
- Year 1: Multiply the past population by 1.08 to get next year's population.
- Year 2: Multiply again by 1.08 to reach the current population.
- Form the equation: Population two years ago * 1.08 * 1.08 = 14,580.
- Simplify: Population two years ago = 14,580 / (1.08 * 1.08).
- Calculate: Population two years ago ˜ 12,500.
Correct Answer: Option 4 - 12,500.
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