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Vikrant Poswal

· started a discussion

· 1 Months ago

WORONG (Question:320140.0)

we need to deduct the tax after each year interest.....where have you done that

Question:

 A men invest Rs. 5000 for 3 year at 5% P.A. compound interest yearly. Income tax at the rate of 20% in the interest earned is deducted at the end of each year/ Find the amound at the end of the third year.


Options:
A)

 5600

B)

 5624.32

C)

 5464.72

D)

 5325.25

Solution:

 Let amount = 100

So interest of 1 year = 5

So amount at the end of 1 year = 104

So amount at the end of 3 yr. =  104100×104100×104100×5000=5624.32   

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