

Simple Interest - General Aptitude
Q1: An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:A
10%
B 10.25%
C 10.5%
D None of these
ANS:B - 10.25% Let the sum be Rs. 100. Then,
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