Arithmetic Aptitude :: Simple Interest
4. A sum of Rs 468.75 was lent out at simple interest and at the end of 1 year and 8 months, the total amount of Rs 500 is received. find the rate of interest.
Given principle P=468.75, Rate of Intreset = R%
Total Amount received = Rs 500
=> Total Amount received = Simple Intrest + Principle.
=> 500 = [468.75*(20/12)*R]/100 + 468.75