A financier claims to be lending money at simple interest, But he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes. - Study24x7
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SSC GD Constable
27 followers study24x7 03 Jul 2021 10:27 AM study24x7 study24x7

A financier claims to be lending money at simple interest, But he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes.

A

10.25%

B

10%

C

9.25%

D

9%

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