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Multiple choice

A sum of Rs. 45,000 is deposited for 4 years at compound interest. The rate of interest is 6% in the first year, and it increases by 1% every year. Find the approximate amount at the end of 4 years.

  1. Rs. 60,000

  2. Rs. 70,000

  3. Rs. 80,000

  4. Rs. 90,000

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B Correct answer

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