Quantitative Aptitude :: Simple Interest - Discussion

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Explanation:
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
=> 31.25=156.25*5R/100
=> R=4%