defence exam Indian Navy Chargeman/Draughtsman Mock Test 2023 Quantitative Aptitude Interest Simple Interest
A person gives a loan at a 12% annual rate. Due to calculation error, he adds interest for six months in principle; what will be the effective rate?
A person gives a loan at a 12% annual rate. Due to calculation error, he adds interest for six months in principle; what will be the effective rate?
1
12.72 %
2
12.26 %
3
12.16 %
4
12.06 %