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 choices.
A) 6.05	B) 6.79	C) 6.02	D) 6.09	E) 6.01
Amount of Rs. 100 for 1 year when compounded half-yearly = [100 * (1 + 3/100)2] = Rs. 106.09 Effective rate = (106.09 - 100)= 
<gadget id="calculator">(106.09 - 100)</gadget>
<output>6.09</output>
6.09%.Answer: 6.09
<result>D</result>
The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is?