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GATE 2021 EC – Question 1

General Aptitude · Quantitative Aptitude: Arithmetic and Number Computation · 1 mark · Multiple choice

The current population of a city is 11,02,500. If it has been increasing at the rate of 5% per annum, what was its population 2 years ago?

  1. 9,92,500
  2. 9,95,006
  3. 10,00,000
  4. 12,51,506

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Show answer and explanation

Correct answer: (C) 10,00,000

Explanation

Going back one year divides by $1.05$, so the population two years ago is $\frac{1102500}{1.05^2}=\frac{1102500}{1.1025}=10{,}00{,}000$.