The effective rate that is equivalent to a nominal rate of 16% compounded semi-annually is : Option 1: 15.16% Option 2: 16.64% Option 3: 18.32% Option 4: 20.24%

The answer is '16.64%'. View full solution:

CUET Mathematics - The effective rate that is equivalent to a nominal rate of 16% compounded semi-annually is : | PYQs + Solutions

CUET Mathematics 2023 23 May Shift 3

Applied Mathematics

Easy

15.16%

16.64%

18.32%

20.24%

✅ Correct Option: 2

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