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1. Mr. Karim deposited TK 800 in a Bank at 15% annual compound interest rate. At the end of the second year, the total amount including the interest will be :
- A. 850
- B. 850
- C. 850
- D. 850
Answer: Option D
Explanation:
We know,
I=p(1+r)^n
or, I= 800×(1+15/100)²
or, I=1058
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