- Principle = 49000;
- Rate of Interest = 57 1/7%;
- Time = 5 yrs;
- I need to find SI of 2nd year = ?
My Try: R = 57 1/7% i.e 4/7 which means Interest/Principle.
Principle; 7 corresponds to 49000 (given).
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Welcome to MSE. Your question is phrased as an isolated problem, without any further information or context. This does not match many users' quality standards, so it may attract downvotes, or be put on hold. To prevent that, please [edit] the question. This will help you recognise and resolve the issues. Concretely: please provide context, and include your work and thoughts on the problem. These changes can help in formulating more appropriate answers. – José Carlos Santos Dec 09 '19 at 07:51
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Please avoid abbreviations or explain them. – Dec 09 '19 at 07:56
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@JoséCarlosSantos See I made changes to my question. – Edward Smith Dec 09 '19 at 08:03
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So you know the initial amount, the interest rate and you need to calculate the total amount after the second year? The formula for calculating this is quite simple. Do you know how to calculate the amount at the end of the first year? Hint: it's a simple calculation involving only the initial amount and the interest rate. – Matti P. Dec 09 '19 at 08:40