Hi!

The question for the day is from the topic compound interest.

Question: A man invests Rs.5000 for 3 years at 5% p.a. compound interest reckoned yearly. Income tax at the rate of 20% on the interest earned is deducted at the end of each year. Find the amount at the end of the third year.

(1) 5624.32

(2) 5630.50

(3) 5788.125

(4) 5627.20

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