Rs. 100000 was invested by Mohan in a fixed deposit @ 10% per annum at CI. However every year he has to pay 20% tax on the compound interest. How much money does Mohan have after 3 years?

128414

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108000

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126079.2

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None of these

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Solution

The correct option is D None of these
We find that, ultimately 8% (20% of 10% = 2% is deducted for tax) interest is charged. So the net value after 3 years = 125971.2

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Rs. 100000 was invested by Mohan in a fixed deposit @ 10% per annum at CI. However every year he has to pay 20% tax on the compound interest. How much money does Mohan have after 3 years?

The correct option is D None of theseWe find that, ultimately 8% (20% of 10% = 2% is deducted for tax) interest is charged. So the net value after 3 years = 125971.2

The correct option is D None of these
We find that, ultimately 8% (20% of 10% = 2% is deducted for tax) interest is charged. So the net value after 3 years = 125971.2