a man invested Rupees 46875 at 4% per annum compound interest for 3 years calculate the interest for the first year
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Answer:
Interest of 1 year is = ₹ 1875
Step-by-step explanation:
p=₹46875
rate = 4% p.a.
n= 3 years.
interest = (p*r*n)/100
As it said to find the compound interest for 1 year so we will n as 1.
interest = 46875*4*1/100
interest = ₹1875
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