Gradle project sync failed basic functionality will not work : How to fix (Android Studio)

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In Android Studio there comes a Gradle compilation error because ” Android support repository” is not installed by default. So you will get the below errors.

“Gradle project sync failed: basic functionality (eg. editting, debugging) will not work”

“Failed to Find: com.android.support:appcompat-v7:20.+”

To fix this error, install Android support repository from “Android SDK manager”

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