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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 Ā = 5000*(81/80) 4 Ā = Rs. 5254.7

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