Mathematics for FinancePYQ Dec 23Question 1251 of 422
All Questions

What is the effective rate of interest when principal amount $50,000$ deposited in a nationalized bank for one year, corresponding to a nominal rate interest $8\%$ per annum compounded quarterly [$1.02^8 = 1.0824$]

Options

A$10.48\%$
B$8.08\%$
C$8.16\%$
D$8.24\%$
For any discrepancies in this question, email contact@cadada.in

Correct Answer

Option a$10.48\%$

All Options:

  • A$10.48\%$
  • B$8.08\%$
  • C$8.16\%$
  • D$8.24\%$

More Questions from Mathematics for Finance

Ready to Master Mathematics for Finance?

Practice all 422 questions with instant feedback, earn XP, track your streaks, and ace your CA Foundation exam.

Start Practicing — It's Free