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    Question

    If the rate of interest is 5% compounded quarterly. What

    will be the approximate amount if P invests Rs.5000 for 1 year?
    A 5465 Correct Answer Incorrect Answer
    B 5255 Correct Answer Incorrect Answer
    C 5200 Correct Answer Incorrect Answer
    D 5945 Correct Answer Incorrect Answer

    Solution

    Required amount = 5000[1 + 5/400] 4  = 5000*(81/80) 4  = Rs. 5254.7

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