The effective rate that is equivalent to a nominal rate of 12% compounded quarterly is : Option 1: 10.55% Option 2: 12.55% Option 3: 12.25% Option 4: 11.55%

The answer is '12.55%'. View full solution:

CUET Mathematics - The effective rate that is equivalent to a nominal rate of 12% compounded quarterly is : | PYQs + Solutions

CUET Mathematics 2023 30 May Shift 3

Applied Mathematics

Easy

10.55%

12.55%

12.25%

11.55%

✅ Correct Option: 2

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