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Find the compound amount which would be obtained from the interest of Rs.2000 at 6% compounded quarterly for 5 years.

3256.97
2567.90
1693.17
2693.71
Explanation:

Let principal = 2000, r=6%=64×100=.015, n=5×4=20quarters

∴A=P(1+r)n
=2000(1+.015)20
=2693.71
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