An automobile financier claims to be lending money at S. I. , but he includes the interest every six months for calculating the principal. If he is charging an interest of , the effective rate of interest becomes?
A.
B.
C.
D. None of these
Answer:B
An automobile financier claims to be lending money at S. I. , but he includes the interest every six months for calculating the principal. If he is charging an interest of , the effective rate of interest becomes?
A. B. C. D. None of these