the effective annual rate of interest corresponding to a nominal rate of 8 % per annum payable half - yearly is ?
amount of rs . 100 for 1 year when compounded half - yearly = [ 100 * ( 1 + 4 / 100 ) 2 ] = rs . 108.16 effective rate = ( 108.16 - 100 ) = 8.16 % answer : b
add(add(divide(8, const_2), divide(8, const_2)), divide(multiply(divide(8, const_2), divide(8, const_2)), const_100))