GIVEN DATA : The population in 2005 is 28,300.
Population is continuously increasing annually with the rate 7%
TO FIND : The population of district in 2020.
EXPONENTIAL GROWTH FUNCTION:
If a quantity grows continuously by a fixed percent, the pattern can be depicted by this function
where \(A_o\) is the initial value.
A is amount after growth or decay
t is time period
r is the growth or decay rate
From the given data In 2005 population is 28300 i.e at
growth rate r=7%=0.07
we need to find the population in 2020 thud time period will be t=15
Use the data in the Continuous Exponential Growth function:
Thus the population in year 2020 is 80,853 people