Nominal rate of Interest 9.9% p.a. If Interest is compounded monthly. What will be the effective rate of Interest? (Given 4033 / 4000 = 1.1036)
CA Foundation · Quantitative Aptitude · MTP · June 2024
Nominal rate of Interest 9.9% p.a. If Interest is compounded monthly. What will be the effective rate of Interest? (Given 4033 / 4000 = 1.1036)
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. 10.36%
Topics: Part-A: Business Mathematics
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