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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 theseCorrect answer is option 'B'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about 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 theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 theseCorrect answer is option 'B'. Can you explain this answer?.

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Here you can find the meaning of 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 theseCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of 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 theseCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for 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 theseCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of 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 theseCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice 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 theseCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Class 7 tests.