Question

A man invests rs46875 at 4% per annum For 3 year. Calculate the interest for first year​

Answer 1

Step-by-step explanation:

It is given that

Principal= 46875

Rate of interest = 4% p.a

(i) Interest for the first year= Prt/100

Substituting the values

=(46875×4×1)/100

= 1875

So the amount after the first year or principal for the second year= 46875+1875=48750

Here

Interest for the second year=(48750×4×1)/100= 1950

(ii) We know that

Amount at the end of second year = 48750+1950

= 50700

(iii) Interest for the third year =(50700×4×1)/100=2028