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What rate of interest is obtained from investing in 8 1/ 2% per cent stock when the quoted price is 6.5 percent below par?

81/11%
91/11%
111/9%
101/9%

Correct Answer: 91/11%

Explanation:

Required answer [(17/2) / (100 - 6.5)] x 100
= (17 / 187) x 100
= 9¹/₁₁%

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