The present population of a town is 240. Population increase rate is 10% p.a. Find the population of town after 1 years? Choose one.
A) 100
B) 120
C) 200
D) 220
E) 264

Rationale: "p = 240 r = 10 % required population of town = p * ( 1 + r / 100 ) ^ t = 240 * ( 1 + 10 / 100 ) = 240 * ( 11 / 10 ) = 264 answer is e"
Answer: E