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.
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Answer:
p= 100000
each scholarships value = 15000
value of 5 scholar ships =5x1500=rupee7500
interest=value of 5 scholarship= rupee 7500
R = r%
T= 1years
Step-by-step explanation:
we know that S.I=PxRxT/100
=7500=100000x R/100
=7500x100=100000xR
=750000=100000xR
R= 750000/100000 R=7.5%
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