Question:
The population of a town increases by 10% annually. If the present population is 60000, what will be its population after 2 years?
Solution:
Present population $=60000$
It increases by $10 \%$ annually.
$\therefore$ Increase in the population in the first year $=10 \%$ of $60000=\frac{10}{100} \times 60000$
$=6000$
$\therefore$ Population after 1 year $=60000+6000=66000$
Increase in the population in the second year, $10 \%$ of $66000=\frac{10}{100} \times 66000$
$=6600$
Thus, population after 2 years $=66000+6600=72600$