ESE 2020Q67
Q: If the nominal rate of interest is 12 % and is compounded quarterly, the effective rate of interest per annum will be nearly
(a)10·8 %
(b)12·6 %
(c)14·4 %
(d)16·2 %
Correct Answer: (b)
Detailed explanation coming soon.
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ESE 2020Q. 67 of 100