The city

At the end of 2010 the city had 248000 residents. The population increased by 2.5% each year. What is the population at the end of 2013?

Correct result:

x =  267069

Solution:

$$\begin{gathered} q=1+2.5\mathrm{/}100={\displaystyle \frac{41}{40}}=1\frac{1}{40}=1.025 \\ r=2013-2010=3 \\ x=248000\cdot q^r=248000\cdot 1.025^3=267069 \end{gathered}$$

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