Answer :
After 10 days, the expected number of shoppers at the shopping mall is 163.
It is given that the number of shoppers increases daily by 5% from the number of shoppers the previous day.
As we can see that the increase in the number of shoppers is going to change every day, and the above case is compounded daily.
The formula of compound increase is
Amount = Base X (1 + r/n)ⁿˣ
where,
Base = original amount
r = rate of change
n = no. of times the change occurs in the time period
t = time
Here,
Base = 100
r = 5/100
n = 1, since it changes once every day
x = 10
Therefore we get
100 X (1 + 5/100)¹⁰
= 100 X 1.05¹⁰
162.88
Since the number of people cannot be in decimal,
the expected number of people is 163
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