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1. Suppose ABC Islamic Bank invests RM5.0 million in Gayaz Islamic Bank for a period of three months, with a profit sharing ratio of 90:10.
1. Suppose ABC Islamic Bank invests RM5.0 million in Gayaz Islamic Bank for a period of three months, with a profit sharing ratio of 90:10. Public Bank at this point of time, would not know the exact rate of return as the formula is only crystallized into actual figures towards the end of the three month period. However, based on the Gayaz Islamic Bank prevailing record, the expected gross rate is 8%. At the end of the investment period, actual gross rate for one year's investments is 9% per annum, calculate the profit ABC Islamic Bank received for the three-month of investment
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