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The effective annual rate of interest, corresponding to a nominal rate of 6% per annum payable half yearly is = ?

16.06%
26.07%
36.08%
46.09%

Answer:- 1

Explanation:-

Solution:

\begin{aligned} Half yearly rate \\ = \frac{6}{2} = 3 % \\ Effective rate % \\ =  3 + 3 + \frac{3 \times 3}{100} \\ = 6.09 % \end{aligned}

$\eqalign{ & {\text{Half yearly rate}} \cr & {\text{ = }}\frac{6}{2} = 3\% \cr & {\text{Effective rate % }} \cr & {\text{ = 3}} + {\text{3}} + \frac{{3 \times 3}}{{100}} \cr & = 6.09\% \cr}$

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", "dateCreated": "7/24/2019 10:09:12 AM", "author": { "@type": "Person", "name": "Nitin Sir" } }, "suggestedAnswer": { "@type": "Answer", "text": "

Solution:

\begin{aligned} Half yearly rate \\ = \frac{6}{2} = 3 % \\ Effective rate % \\ =  3 + 3 + \frac{3 \times 3}{100} \\ = 6.09 % \end{aligned}

$\eqalign{ & {\text{Half yearly rate}} \cr & {\text{ = }}\frac{6}{2} = 3\% \cr & {\text{Effective rate % }} \cr & {\text{ = 3}} + {\text{3}} + \frac{{3 \times 3}}{{100}} \cr & = 6.09\% \cr}$ ", "dateCreated": "7/24/2019 10:09:12 AM" } }

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