Question

11. Mrs Asha donated R 75,000 to a Children Welfare Trust with the condition that the interest
on this sum is to be used for awarding five scholarships of equal value every year to the
physically handicapped children. If the donation earns an interest of 12% per annum, find
the value of each scholarship.​

Answer 1

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$\large\underline {Note:}$

We have to solve it with formula of Simple Interset.

$\large\underline {Given}$

Donation = Principal = 75000

Rate = 12%

Time = 1 year

$\large\underline {Solution}$

Simple Interest = $\frac{P×R×T}{100}$.

= $\frac{75000×12×1}{100}$

= 9000

by the information given in the question we have to find the value of each scholarship

$\large\underline {Find:}$

Scholarship = 5

Interest = 9000

Value of scholarship = ?

$\large\underline {solution}$

Let's assume the value of each scholarship be $x$.

9000 = 5×$x$

$x$ = $\frac{9000}{5}$

$x$ = 1800

The value of each scholarship is 1800.