Problem 20 The annual returns of portfolio X and Y were 6.5% and 7.8% respectively, while the risk-free return is 4.3%. Further, the standard deviation of portfolio X and Y were 0.08 and 0.20. calculate which of the two is a better investment option (Hint, considering Sharpe ratio) A) X is better B) Y is better C) They are the same D) Depending on the PM's view I 8