109. If the town's population was 62,000 at the end of year 5, and the population...
109. If the town's population was 62,000 at the end of year 5,
and the population grew at the same annual rate as the number of
eating establishments between the end of year 1 and the end of year
5, what was the town's population at the end of year 1?
A. 49,809
B. 51,435
C. 53,230
D. 54,330
E. 56,730
why the answer is A , and give the process
Homework Answers
The eating establishments were as follows for 5 years
(As per the problem in the book) Year 1 = 143; Year 2 = 149; Year 3 = 162; Year 4 = 171; Year 5 = 178
The year by year % increase 4.19 % in year 2, 8.7% in year 3 5.55 % in year 4 and 4.09 % in year 5
Now we back calculate i.e Year 5 end = 62,000
year 4 = 62,000 / 1.0409 = 59,615
year 3 = 59,615/ 1.055 = 56,507
year 2 = 56,507/ 1.087= 51,984
year 1 = 51,984/1.0419 = 49,809
Thats why the answer is (A) 49,809
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