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If the present population of a state is 27500 and after 2 years it increases to 40931, then what is the rate of increase per year ?

A) 25%
B) 10%
C) 17%
D) 13%
E) 22%

Correct Answer:





E) 22%

Description for Correct answer:
Let the increase per year be r%

According to question,

\( 40931=27500\left[ 1+\frac{r}{100} \right]^{2} \)

\( \frac{40931}{27500}=\left[ 1+\frac{r}{100} \right]^{2} \)

\( 1.4884=\left[ 1+\frac{r}{100} \right]^{2} \)

\( 1.22=1+\frac{r}{100} \)

r=22%

Part of solved IBPS PO-Main Exam questions and answers : Exams >> Bank Exams >> IBPS PO-Main Exam

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