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)
The correct answer is (b) '12·6 %'. This question from the General Studies domain tests knowledge of Miscellaneous.