Mr Jane donates1 lakh to a school and the interest on it is to be used

1.	Mr Jane donates1 lakh to a school and the interest on it is to be used for awarding1,500, find the ratefive scholarships of equal value. If the value of each scholarship isof interest.
Answer» Principal ( P ) = Mr.Jane donated amount P = Rs 100000 Each scholarship value = Rs 1500 Value of 5 scholarships = 5 × 1500 = Rs7500 Interest ( I ) = value of 5 scholarships I = Rs 7500 Rate of intersest per annum = R % Time ( T ) = 1 year We know that , I = ( PTR ) / 100 R = ( I × 100 ) / ( P × T ) R = ( 7500 × 100 ) / ( 100000 × 1 ) R = 75 / 10 R = 7.5 % Rate of interest = R = 7.5 % I hope this helps you. Please like the solution 👍 ✔️👍

Mr Jane donates1 lakh to a school and the interest on it is to be used for awarding1,500, find the ratefive scholarships of equal value. If the value of each scholarship isof interest.

Answer»

Principal ( P ) = Mr.Jane donated amount

P = Rs 100000

Each scholarship value = Rs 1500

Value of 5 scholarships = 5 × 1500 = Rs7500

Interest ( I ) = value of 5 scholarships

I = Rs 7500

Rate of intersest per annum = R %

Time ( T ) = 1 year

We know that ,

I = ( PTR ) / 100

R = ( I × 100 ) / ( P × T )

R = ( 7500 × 100 ) / ( 100000 × 1 )

R = 75 / 10

R = 7.5 %

Rate of interest = R = 7.5 %

I hope this helps you.

Please like the solution 👍 ✔️👍