A financier claims to be lending money at simple interest, But he incl – McqOptions

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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 interest becomes?
A.	10.25%
B.	10%
C.	9.25%
D.	9%
Answer» B. 10%

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