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If a population of 1 million grows by 10 percent annually for three consecutive years, what will it be approximately at the end of the third year?

Answer and explanation

Correct answer: 1.331 million

A constant annual percentage increase produces compound growth, not simple growth. In compound growth, the increase earned during one year becomes part of the population on which the next year's increase is calculated. Thus, a population growing at 10 percent is multiplied by 1.10 each year. For three consecutive years, the multiplier is applied three times.

Final population = 1,000,000 × 1.10 × 1.10 × 1.10 = 1,331,000. In lakh notation, this is 13.31 lakh, so option C is correct. Simply adding 10 percent three times would give 1.3 million and ignore the extra growth on earlier increases. The result is approximately 1.331 million because the question asks for an approximate population, while the stated calculation gives the exact value under the constant-rate assumption.

Related tags

Compound Population GrowthThree Year GrowthAnnual Growth RatePopulation ProjectionPopulation GrowthThe World Population – DistributionDensity And GrowthThe World Population Distribution Density And Growth

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