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?
1st year, Population = 240,000 x (2/100) = 4800.
Being the 2nd year population = 240,000 + 4800 = 244800.
Increase in Pop. in 2nd year = 244800 x (2/100) = 4896
Jan 2000, Pop. = 244800 + 4896 = 249,696
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