An automobile financier claims to be lending money at simple interest, but he includes interest every six months for calculating principal. If he is charging interest of 10%, the rate of Interest is-

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 includes interest every six months for calculating principal. If he is charging interest of 10%, the rate of Interest is-
A.	9.50%
B.	10.00%
C.	10.25%
D.	10.50%
Answer» D. 10.50%

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An automobile financier claims to be lending money at simple interest, but he includes interest every six months for calculating principal. If he is charging interest of 10%, the rate of Interest is-

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