Question
What will the duration of the bond if the current market
value of a bond is Rs.102.50 and the market value decreased by Rs.2.50 when the interest rates increased by 0.5%?Solution
Duration = %change in price/%change in interest rates            = (2.5/102.5)/(0.5%)            = 2.44%/0.5%            = 4.88 years
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