1. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:





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  • By: anil on 05 May 2019 01.39 am
    Amount of Rs.100 for 1 year when compounded half-yearly = Rs.$$[100 imes(1+3/100)^2 ]$$=Rs.106.09
    Effective rate =(106.09-100) %=6.09.
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