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An automobile financier claims to be lending money at simple interest, but includes the interest every six months for calculating the principal. If he is charging an interest of 10 , find the effective rate of interest.

An automobile financier claims to be lending money at simple interest, but includes the interest every six months for calculating the principal. If he is charging an interest of 10
, find the effective rate of interest.

Grade:12th pass

1 Answers

Pawan Prajapati
askIITians Faculty 60796 Points
2 months ago
Our expert is working on this Class VII Maths answer. We will update the answer very soon.

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