I don't quite understand what is the difference between approximating the first positive root of a function and third positive root of a function by using the Newton-Raphson formula. Can the following formula apply to finding the third positive root ?
$$x_{n+1}=x_n-\frac{f\:\left(x_n\right)\:}{f\:'\:\left(x_n\right)}$$
Yes, Newton's method works by assuming that if you were to plot a graph of a function and choose a point near to a root of that function then a lime drawn tangential to the curve to the x-axis will be closer to the root and we repeat this to get better and estimates.
This does not have to be the first root. If your starting point is near enough to another root you should get that root.