Math, asked by nishchaypandey68648, 7 months ago

10. Mr Jane donates 1 lakh to a school and the interest on it is to be used for awarding
five scholarships of equal value.If the value of each scholarship is 1,500, find the rate of interest

Answers

Answered by Anonymous

6

Step-by-step explanation:

Interest = PRT/100

total interest = 1500×5

= 7500

then,

7500 = 1,00,000 × R × 1 / 100

R = 7500 × 100 / 1,00,000

R = 7.5 %

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