GAT Subject
Engineering
Computer Science Civil Engineering Chemical Engineering Agricultural Engineering Mechanical Engineering Electronics and Communication
7. | 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? | |
A. | 10% | |
B. | 10.25% | |
C. | 10.5% | |
D. | None of Above | |