Question

Monika borrowed rupees 4096 from Rakesh for 3 year at 6 1/4 %
per annum

Answer 1

If as per normal interest :4096*6.25/100*3=768 is the interest for 3 years and total principal and interest for 3 year is 4864. if as per yearly compound interest 1 st year 4096*6.25/100=256, 2 nd year4096+256*6.25/100=272,and for 3 Rd year 4096+256+272*6.25/100=289,for 3 year interest is 817 and principal and interest is 4913