18. Dr Sharma donated 50,000 to a school in memory of his mother on condition that the interest due on<br />this money is to be used for awarding scholarship to 10 students of equal prize money every year. If the<br />donation receives a simple interest of 5% p.a., find the value of each scholarship. <br />Please solve step by step and fast.
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Answer:
i=(5000×11×1)/100
=550
value of each scholarship=550/10
=55 rs. ans
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