the effective annual rate of interest corresponding to a nominal rate of 6 % per annum payable half - yearly is :
"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 %"
add(add(divide(6, const_2), divide(6, const_2)), divide(multiply(divide(6, const_2), divide(6, const_2)), const_100))