The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:	Choose the correct choice from the following:
A) 6.09 % B) 6.08 % C) 6.1 % D) 6.07 % E) 6.05 %

Rationale: "amount of rs . 100 for 1 year when compounded half - yearly = 100 x ( 1 + 3 / 100 ) ^ 2 = 106.09 therefore effective rate = ( 106.09 - 100 ) % = 6.09 % answer a ) 6.09 %"
Answer: A