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Mathematics
MEDIUM
ENGLISH
Mathematics
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%
Option A
10.25%
Correct answer
C
10.50%
Option C
D
None of these
Option D
Correct answer: B
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