Find the effective rate of interest if the normal rate of interest is 10% p.a. and the interest is compounded every six months.

  • Option 1)

    21.5%

  • Option 2)

    10.25%

  • Option 3)

    5.25%

  • Option 4)

    11%

  • Option 5)

    10%

Answers (1)

for this take 100 as principal

R = 10 % and half yearly rate will be 5 %

5+5+0.25 = 10.25 %

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