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Dear Ajinkya,
Droping a year will be the best option for you as it does't matter if you graduate from a prestigous college and get a promising career than to opt for some not so good college and struggle in life after graduating. Regarding chemistry, there is only one best way to study it. Solve too many objective problems and then find out your weak points and then get into theory for better understnding. Refer to CHEMISTRY TODAY everymonth.
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Thanks and All the Best !!!!
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