What is the effective rate of interest when principal amount of ₹ 50,000 deposited in a nationalized bank for one year, corresponding to a nominal…
CA Foundation · Quantitative Aptitude · PYQS · September 2024
What is the effective rate of interest when principal amount of ₹ 50,000 deposited in a nationalized bank for one year, corresponding to a nominal rate of interest 6% per annum payable half yearly ?
Suggested Answer and Working Notes:
Correct Answer: Option (D)
D. 6.09%
Topics: Part-A: Business Mathematics
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