A .  
The amplitude of modulated wave varies as frequency of carrier wave
B .  
The frequency of modulated wave varies as amplitude of modulating wave
C .  
The amplitude of modulated wave varies as amplitude of carrier wave
D .  
The frequency of modulated wave varies as frequency of modulating wave
E .  
The frequency of modulated wave varies as frequency of carrier wave
Answer: Option B : B
The process of changing the frequency of a carrier wave (modulated wave) in accordance with the audio frequency signal (modulating wave) is known as frequency modulation (FM).
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