Solutions
Get detailed explanations to advanced GMAT questions.
Question
If a town of 25,000 people is growing at a rate of approximately 1 percent per year, the population of the town in 5 years will be closest to
Option A:
26000
Option B:
27000
Option C:
28000
Option D:
29000
Option E:
30000
Difficulty Level
EasySolution
Option A is the correct answer.
Option Analysis
Given that 25,000 people are there and they increasing at the rate of 0.01
We need to find:
25000(1.01)^5 = 25000(1+0.01)^5
If x is tiny, (1+x)^y is approximately 1+xy (1+0.01)^5
= 1+0.05
= 1.05 25000(1.05)
= 26250
Related Questions
- The outside of the rectangular box represented in the figure above is to be decorated by attaching pieces of…
- If 0 < x < 2, which of the following must be greatest?
- At a certain committee meeting only associate professors and assistant professors are present…
- If x ≠ – 1, then is equal to
- If x^2 = y^2, is true that x>0?