Neco Model Questions Vol1 2017 Economics Question 20

The population of Country Y was \(20\) million in the year 2000. The annual population growth rate was \(2.5\%\) per year from 2000 to 2010, after which a family‑planning programme reduced the growth rate to \(1.2\%\) per year. (a) Calculate the population in the year 2020. (b) In 2020, \(30\%\) of the population is aged 0-14, \(60\%\) is aged 15-64 and the remaining are 65 years and above. Compute the dependency ratio (defined as \(\frac{\text{population aged 0-14} + \text{population aged 65+}}{\text{population aged 15-64}} \times 100\)). (c) If the government wants the dependency ratio to fall to \(55\%\) by 2030 and expects that the proportion aged 0-14 will fall to \(25\%\) while the proportion aged 65+ will rise to \(12\%\), what will be the total population in 2030 (in millions) assuming the reduced growth rate of \(0.8\%\) per year from 2020 onward? Give the projected population rounded to two decimal places.