The population of a city increase each year by 4% of what it had been at the beginning of two years of each year . If its present population is 6760000, find: (i) its population 2 years hence (ii) its population 2 years ago .

Explanation

To solve the problem step by step, we will use the formula for compound interest, which can also be applied to population growth. The formula is:

\[ A = P \left(1 + \frac{R}{100}\right)^N \]

Where:
- \( A \) = the amount of population after \( N \) years
- \( P \) = the initial population
- \( R \) = the rate of increase (in this case, 4%)
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