The population of a place increased to 54,000 in 2003 at a rate of 5% per annum. (i) find the population in 2001 (ii) what would be its population in 2005?

(i) To find the population in 2001, we need to reverse the growth rate from 2003. The population in 2003 was 54,000 and it had grown by 5% per annum. So, to find the population in 2001, we need to reduce the 2003 population by 5% for each of the two years.

First, let's find the population in 2002: 54,000 / 1.05 = 51,428.57 (approximately)

Then, let's find the population in 2001: 51,428.57 / 1.05 = 48,980.54 (approximately)

So, the population in 2001 was approximately 48,981.

(ii) To find the population in 2005, we need to increase the 2003 population by 5% for each of the two years.

First, let's find the population in 2004: 54,000 * 1.05 = 56,700

Then, let's find the population in 2005: 56,700 * 1.05 = 59,535

So, the population in 2005 would be approximately 59,535.