An automobile financier claims to be lending money at simple interest, but

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An automobile 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:

Options:

A . 10%

B . 10.25%

C . 10.5%

D . None of these

Answer: Option B

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Question 1. A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and....them as interest. The rate of interest per annum is:

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Question 10. . What percentage of simple interest per annum did Anand pay to Deepak? I. Anand borrowed Rs. 8000 from Deepa....at the end of two years and settled the loan.

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