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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

Rs.5624.32
Rs.5423
Rs.5634
Rs.5976

Correct Answer: Rs.5624.32

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