Nominal rate of Interest is 9.9 % p.a. If interest is compounded monthly, what will be effective rate of Interest.
CA Foundation · Quantitative Aptitude · MTP · September 2024
Nominal rate of Interest is 9.9 % p.a. If interest is compounded monthly, what will be effective rate of Interest.
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. 10.35%
Topics: Part-A: Business Mathematics
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