Jaffin took a loan of ₹62000 from a bank for buying a motor cycle for 4 years.
After 4 years, the total amount paid by him t

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1. [tex] {\pmb{\underline{\sf{ Required \ Solution … }}}} \\ [/tex]

   • Principal = ₹ 62000
   • Time (t) = 4 Years
   • Amount = ₹ 99200

   As we know that:-

   [tex] \dag \ {\underline{\boxed{\sf{ Interest = Amount – Principal }}}} \\ \\ \colon\implies{\sf{ 99200 – 62000 }} \\ \\ \colon\implies{\sf{ 37200 _{(Interest)} }} \\ [/tex]

   Now, We’ve Interest of the transaction & we can put it into desired formula to get the Rate of the Interest as:-

   • Interest = ₹ 37200

   Let the Rate of the Interest be x

   [tex] \circ \ {\pmb{\underline{\boxed{\sf\gray{ Interest_{(Simple)} = \dfrac{PRT}{100} }}}}} \\ \\ \\ \colon\implies{\sf{ 37200 = \dfrac{620 \cancel{00} \times x \times 4}{ \cancel{100} } }} \\ \\ \\ \colon\implies{\sf{ 37200 = 620 \times x \times 4 }} \\ \\ \\ \colon\implies{\sf{ \dfrac{37200}{620 \times 4} = x }} \\ \\ \\ \colon\implies{\sf{ \cancel { \dfrac{37200}{2480} } = x }} \\ \\ \\ \colon\implies{\underline{\boxed{\sf{ x = 15 _{( \% )} }}}} [/tex]

   Hence,

   The Rate of the Interest is 15%.

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