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CUET · MATHS · PYQ PAPER 2025

The effective rate per annum equivalent to a nominal rate of \(8 \%\) compounded semi-annually is

  1. A 8.24 %
  2. B 8.33 %
  3. C 8.16 %
  4. D 8.06 %
Verified Solution

Answer & Solution

Correct Answer

(C) 8.16 %

Step-by-step Solution

Detailed explanation

\(E = (1 + \frac{r}{n})^n - 1\) \(E = (1 + \frac{0.08}{2})^2 - 1\) \(E = 0.0816\) \(E = 8.16\%\)