What amount should be set aside at the end of each year to get rs.1,48,970 at the end of 8 years at 5% p.A. Compounded annually
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Answer:
P=₹1,48,970
Time=8 yrs
R.O.I=5%
S.I.=PxRxT/100
=148970x5x8/100
=₹59588
Amount=Principal+S.I.
=₹1,48,970+₹59,588
=₹2,08,558
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