Question

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 8%, the effective rate of interest becomes ?
A) 10.25 % B) 8.16 % C) 9.63 % D) 0.16 %

Answer 1

Answer:

(d) 0.16% is right answer

Step-by-step explanation:

(d) 0.16% is right answer