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प्रश्न
Identify and explain the following concept:
Madhuri deposited a lumpsum amount of ₹ 1,00,000 in the bank for the period of five years.
स्पष्ट कीजिए
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उत्तर
Identified concept: Fixed deposit.
Explanation:
A fixed deposit is a type of deposit where the saver deposits a specific amount in the form of a deposit in a commercial bank for a certain period of time and has the option to withdraw the amount from the deposit after a certain amount of time.
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