state gov TSPSC DAO (Divisional Accounts Officer) Mock Test 2024 Quantitative Aptitude Interest Simple Interest
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 14%, the effective rate of interest becomes:
1
15%
2
14.49%
3
14.35%
4
15.49%