The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is?
Choose the correct choice:
A) 6.99 %
B) 6.89 %
C) 6.08 %
D) 6.09 %
E) 6.19 %

Rationale: "amount of rs . 100 for 1 year when compounded half - yearly = [ 100 * ( 1 + 3 / 100 ) 2 ] = rs . 106.09 effective rate = ( 106.09 - 100 ) = 6.09 % answer : d"
Answer: D