Question

A trust caring for handicapped children gets rs. 30,000 every month from its donors. the trust spends half of the funds received for medical and educational care of the children and for that it charges 2% of the spent amount from them, and deposits the balance amount in a private bank to get the money multiplied so that in future the trust goes on functioning regularly. what percent of interest should the trust get from the bank to get a total of rs. 1800 every month? use matrix method, to find the rate of interest. do you think people should donate to such trusts?

Answer 1

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