An old lady Krishna Devi deposited Rs. 120000 in a bank at 8% interest p.a.
She uses the annual interest to give five scholarships to the students of a school
for their overall performances each year. The amount of each
Scholarship is Rs. 300 less than the preceding scholarship. Find the amount of
each scholarship. What values of lady are depicted here?
Answers
Answer:
Mistake in the question: amount deposited will be ₹120000 instead of ₹12000 .we can't give scholarship by ₹12000 for 5 students.
GIVEN:
Principal(P) = ₹ 120000
Rate (R)= 8%,
Time(T) = 1 year
S.I =( P x R x T)/100
= (120000 x 8 x 1) / 100 = ₹ 9600
Here, ₹9600 is to be used to give 5 scholarships.
Let the value of first scholarship be ₹ a, the value of second scholarship ₹ (a-300), the value of third scholarship [ (a-300)-300)] and so on.
Sn =₹ 9600, n = 5 , d= -300
Sn = n/2 [2a + (n-1) d
9600 = 5/2 [2×a +(5-1)×-300]
(9600 ×2)/5 = 2a + 4 ×-300
1920 ×2 = 2a - 1200
3840 + 1200 = 2a
5040 = 2a
a = 5040/2 = 2520
Hence, the value of first prize = ₹2520
the value of second prize = ₹2520 - ₹300 = ₹2200
the value of 3rd prize = ₹2200 - ₹300 = ₹1920
the value of 4th prize = ₹1920 - ₹300 = ₹1620
the value of 5th prize = ₹1620 - ₹300 = ₹1320.
The value of lady depicted here are love and charity.
HOPE THIS WILL HELP YOU...