Q: An automobile financier claims to be lending money at S.I., but he – McqOptions

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1.	Q: 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 8%, the effective rate of interest becomes ?
A.	0.1025
B.	0.0816
C.	0.0963
D.	0.0016
Answer» C. 0.0963

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