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 inte

A financier claims to be lending money at simple interest, But he i

1.	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 inte
A.	9.75%
B.	10%
C.	10.10%
D.	10.25%
Answer» D. 10.25%

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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 inte

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