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Find the interest on 3125rs for 3 years if the rate of interest for first, second and third year are 4%,5%and6% per annum respectively


Shri Krishna And Sons 2nd Dec, 2024
Answer (1)
kumardurgesh1802 2nd Dec, 2024

Hello student,

To calculate the total interest on Rs. 3125 for 3 years with different rates of interest for each year, we calculate the simple interest for each year separately and sum them up.

Formula:

Simple Interest (SI) = (Principal × Rate × Time) / 100


First year:

SI = (3125 × 4 × 1) / 100 = Rs. 125


Second year:

SI = (3125 × 5 × 1) / 100 = Rs. 156.25


Third year:

SI = (3125 × 6 × 1) / 100 = Rs. 187.50


Total Interest:

125 + 156.25 + 187.50 = Rs. 468.75

Thus, the total interest is Rs. 468.75.


I hope this answer helps you. If you have more queries then feel free to share your questions with us we will be happy to assist you.

Thank you and wishing you all the best for your bright future.


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