Q. A man invests Rs. 5000 for 3 years at 5% p.a. compound interest reckoned yearly. Income tax at the rate of 20% on the interest earned is deducted at the end of each year. Find the amount at the end of the third year = ?

• A. Rs. 5624.32
• B. Rs. 5627.20
• C. Rs. 5630.50
• D. Rs. 5788.125

Correct Answer: A