A) 6.06%
B) 6.07%
C) 6.08%
D) 6.09%
Correct Answer: D
Solution :
Given that, \[r=6%\] and \[n=1\,yr\] for half yearly \[r=3%,\] \[r=3%,\text{ }n=2\] half yr. Let the principal be Rs. 100. \[\therefore \] \[A=100{{\left( 1+\frac{3}{100} \right)}^{2}}\] \[=100\times \frac{103}{100}\times \frac{103}{100}=106.09\] \[\therefore \] Effective annual rate of interest \[=6.09%\]You need to login to perform this action.
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