Mathematics for FinancePYQ Sep 24Question 1264 of 479
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What is the effective rate of interest when principal amount of 50,000\displaystyle 50,000 deposited in a nationalized bank for one year, corresponding to a nominal rate of interest 6%\displaystyle 6\% per annum payable half yearly?

Options

A6.07%\displaystyle 6.07\%
B6.06%\displaystyle 6.06\%
C6.08%\displaystyle 6.08\%
D6.09%\displaystyle 6.09\%
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Correct Answer

Option d6.09%\displaystyle 6.09\%

All Options:

  • A6.07%\displaystyle 6.07\%
  • B6.06%\displaystyle 6.06\%
  • C6.08%\displaystyle 6.08\%
  • D6.09%\displaystyle 6.09\%

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