If the rate of interest is 8% per annum and Rs. 10000 lent at the compound interest half yearly then calculate the equivalent simple rate of interest for the first year?

If the rate of interest is 8% per annum and Rs. 10000 lent at the comp

1.	If the rate of interest is 8% per annum and Rs. 10000 lent at the compound interest half yearly then calculate the equivalent simple rate of interest for the first year?
A.	8.16%
B.	9%
C.	7%
D.	10%
Answer» B. 9%

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If the rate of interest is 8% per annum and Rs. 10000 lent at the compound interest half yearly then calculate the equivalent simple rate of interest for the first year?

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