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What rate of interest is obtained from investing in 9 1/ 2 percent stock. When the quoted price is 14 percent above par?

81/3%
82/3%
91/3%
Data inadequate

Correct Answer: 81/3%

Explanation:

Actual rate percent = [9¹/₂ / (100 + 14 + 0)] x 100
= 25/3
= 8¹/₃%

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