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Maths Puzzle
Numerical Ability
Simple & Compound Interest
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
A. 6.06% B. 6.07%
C. 6.08% D. 6.09%
Read Solution (Total 1)
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- Amount of Rs. 100 for 1 year
when compounded half-yearly = Rs. 100 x 1 + 3 2 = Rs. 106.09
100
Effective rate = (106.09 - 100)% = 6.09% - 9 years agoHelpfull: Yes(0) No(0)
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