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Q. Leila aspires to buy a car worth Rs. 10,00,000 after 5 years. What is the minimum amount in Rupees that she should deposit now in a bank which offers 10% annual rate of interest, if the interest was compounded annually?
(A) 5,00,000
(B) 6,21,000
(C) 6,66,667
(D) 7,50,000
Ans: 6,21,000
Sol:
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