The present population of a town is 1240. Population increase rate is 4% p.a. Find the population of town after 1 years?	Choose the correct choice from the following answers
A) 990  B) 1215  C) 1345  D) 1142  E) 1290
P = 1240   R = 4%   Required population of town = P*(1 + R/100)^T   = 1240*(1 + 4/100)   = 1240*(26/25)   = 1290(approximately)   Answer is 1290
<result>E</result>
The present population of a town is 1240. Population increase rate is 4% p.a. Find the population of town after 1 years?