The effective annual rate of interest corresponding to a nominal rate of 8% per annum payable half-yearly is?	Choose the correct option:
A) 6.06% B) 8.16% C) 6.08% D) 6.09% E) 6.19%
Amount of Rs. 100 for 1 year when compounded half-yearly = [100 * (1 + 4/100)2] = Rs. 108.16 Effective rate = (108.16 - 100)= 
<gadget id="calculator">(108.16 - 100)</gadget>
<output>8.16</output>
8.16%   ANSWER:8.16%
<result>B</result>
The effective annual rate of interest corresponding to a nominal rate of 8% per annum payable half-yearly is?