Menu
Home / Arithmetic Aptitude / Simple Interest :: Discussion

Discussion :: Simple Interest

  1. An automobile financier claims to be lending money at S.I., 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?
    2. A.
    10%
    B.
    10.25%
    C.
    10.5%
    D.
    None of these

    View Answer

    Workspace

    View Answer

    Answer : Option B

    Explanation :

    Let the sum be Rs. 100. Then,

    S.I. for first 6 months = (100 * 10 *1) / (100 * 2) = Rs. 5

Write your comments here:

Be The First To Comment