A country has a current population of 23 million, however its birth rate is declining at 2% per annum. Given this information, determine the population in 10 years' time.

Question

Quizplus · Accepted Answer

The population decreases by 2% annually. To find the population in 10 years, we use the formula for exponential decay: P = P0 * (1 - r)^t, where P0 is the initial population, r is the rate of decrease (as a decimal), and t is the time in years. Here, P0 = 23 million, r = 0.02, and t = 10. So, P = 23 * (1 - 0.02)^10 ≈ 18.79 million.

A Country Has a Current Population of 23 Million, However