the effective annual rate of interest corresponding to a nominal rate of 12 % per annum payable half - yearly is ?
"amount of rs . 100 for 1 year when compounded half - yearly = [ 100 * ( 1 + 6 / 100 ) 2 ] = rs . 112.36 effective rate = ( 112.36 - 100 ) = 12.36 % answer : c"
add(add(divide(12, const_2), divide(12, const_2)), divide(multiply(divide(12, const_2), divide(12, const_2)), const_100))