The population of a city increases at the rate of 4% per annum. There is an additional annual increase of 1% in the population due to the influx of job seekers. Therefore, the % increase in the population after 2 years will be :
Correct answer: B
Explanation
The net annual increase = 5%.
Let the initial population be 100.
Then, population after 2 years = 100 × 1.05 × 1.05
= 110.25
Therefore, % increase in population
= (110.25 – 100) = 10.25% Answer B
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