An automobile financier claims to be lending money at the 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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3633 followers study24x7 20 Jul 2020 12:37 PM study24x7 study24x7

An automobile financier claims to be lending money at the 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%

B

10.25%

C

10.10%

D

10.80%

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