An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective ra

An automobile financier claims to be lending money at simple intere

1.	An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective ra
A.	10%
B.	10.25%
C.	10.5%
D.	none of these
Answer» C. 10.5%

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An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective ra

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