The population of a town 2 years ago was 62,500. Due to migration to big cities, it decreases every year at the rate of 4\%. The present population of the town is
(a)56,700
(b)57,600
(c)58,800
(d)60,000
Answer
Answer (as printed): B
Explanation
Present population $$=62500 \times\left(1-\frac{4}{100}\right)^{2}=\left(62500 \times \frac{24}{25} \times \frac{24}{25}\right)=57600 .$$
Explanation as extracted from the printed page; notation may be imperfect.