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31 August, 07:44

Lily deposited $500 in a savings account. At the end of 1 year, she had earned $20 in simple interest. What interest rate did she receive?

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  1. 31 August, 10:15
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    X/100 * 500 = 20

    500/100x = 20

    5x = 20

    x = 4 %
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