A city's population grows at 4% p.a., with an extra 1% annual growth from job seekers. What is the total percentage growth after 2 years_________?
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Answer: C. 10.25
Explanation
Combining the base growth rate of four percent with the extra one percent yields five percent annual growth. Applying the successive percentage formula to five percent over two years gives five plus five plus zero point twenty five. The resulting cumulative growth calculation totals exactly ten point twenty five percent after two years. Compounding growth calculates percentage increases on the previously updated total over multiple periods. Job seeker migration numbers add directly to the natural baseline municipal population growth rate. The net formula for two successive percentage increases is a plus b plus a times b over one hundred.
Urban economists model regional population booms incorporating both birth rates and net job migration. Financial planners calculate compound interest yields on investment portfolios over multi year horizons. Market researchers project consumer base expansion using combined demographic growth indicators. Option a ignores the compounding effect by simply multiplying five percent by two years. Option b overestimates the compounding growth by adding an incorrect rounding factor. Option d fails to account for the exact cross product term in the compounding formula.
- Subject
- Mathematics
- Category
- Mathematics
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- —
- Difficulty
- medium
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