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 $10 \%$ per annum,the effective rate of interest (in $\%$) becomes:

  • A
    $10$
  • B
    $10.25$
  • C
    $10.5$
  • D
    $15$

Explore More

Similar Questions

The annual instalment that will discharge a debt of ₹ $4200$ due in $5$ years at $10 \%$ simple interest (in ₹) is:

Adam borrowed some money at the rate of $6 \% \text{ p.a.}$ for the first two years,at the rate of $9 \% \text{ p.a.}$ for the next three years,and at the rate of $14 \% \text{ p.a.}$ for the period beyond five years. If he pays a total interest of ₹ $11,400$ at the end of nine years,how much money (in ₹) did he borrow?

If ₹ $1000$ is invested at an interest rate of $5 \%$ and the interest is added to the principal every $10$ years,then the number of years in which it will amount to ₹ $2000$ is:

David invested a certain amount in three different schemes $A, B$ and $C$ with the rate of interest $10 \% \text{ p.a.}, 12 \% \text{ p.a.}$ and $15 \% \text{ p.a.}$ respectively. If the total interest accrued in one year was ₹ $3200$ and the amount invested in scheme $C$ was $150 \%$ of the amount invested in scheme $A$ and $240 \%$ of the amount invested in scheme $B$, what was the amount (in ₹) invested in scheme $B$?

Difficult
View Solution

$A$ man invested $\frac{1}{3}$ of his capital at $7 \%$,$\frac{1}{4}$ at $8 \%$,and the remainder at $10 \%$. If the annual income is ₹ $561$,the capital (in ₹) is:

Vedclass Products

For Students

Vedclass Test Series

Mock tests in real JEE/NEET style with performance analysis. 5-day free trial.

Start Free Trial
For Teachers

Exam Paper Generator

Generate Set A/B/C/D exam papers from 7.5L+ questions in 2 minutes. 3 chapters free.

Try Free
For Institutes

Online Exam Module

Live online exams with unlimited students, 360° analytics & white-label branding.

See Demo