Answer :

In mathematical language, the problem is



In that bank, the rate of simple interest is 12%.


So, the interest of Rs. 100 in 1 yr is Rs. 12


The interest of Rs. 1 in 1 yr is Rs.


The interest of Rs. 15,000 in 1 yr is


= Rs. 1,800


The interest of Rs. 15,000 in 4 yr is


= Rs. 7,200


The total interest paid by them = Rs. 7,200


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