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Question 4 the day - August 22, 2002

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  • Ascent Education CAT 2002
    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.
    Message 1 of 1 , Aug 22, 2002
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      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

      Click here to know the correct answer and the solution to the above problem.

      http://www.ascenteducation.com/india-mba/iim/cat/questionbank/Archives/August2002/arith2208.html

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      Cheers

      K S Baskar
      Director - Ascent Education
      Classes for CAT - XAT - GRE - GMAT
      http://www.ascenteducation.com
      Phone (044) 713 7211
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