Which is better investment, 12% stock at par with an income tax at the rate of 5

Question

Which is better investment, 12% stock at par with an income tax at the rate of 5 paise per rupee or $$14\frac{2}{7}\% $$ stock at 120 free from income tax ?

Options:

A . 12% stock

B . $$14\frac{2}{7}\ $$% stock

C . Both are equally good

D . Cannot be compound

Answer: Option B

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