The present population of a town is 2000. Population increase rate is 20% p.a. Find the population of town after 1 years? Choose the correct choice.
A) 1000
B) 2400
C) 1500
D) 1600
E) 1250

Rationale: "p = 2000 r = 20 % required population of town = p ( 1 + r / 100 ) ^ t = 2000 ( 1 + 20 / 100 ) = 2000 ( 6 / 5 ) = 2400 answer is b"
Answer: B