Fatima donates Rs. 20,000 to a school, the interest on which is to be used for awarding 5 scholarships of equal value every year. If the donation earns an interest of 10% per annum, find the value of each scholarship.
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Principal = 20000
Rate = 10%
Time = 1 year
Simple Interest
= 20000 x 10 x 1 x 1/100
= ₹2000
Total scholarships = 5
Value of each scholarship
= 2000/5
= ₹400
Every year 5 scholarships of ₹400 each are given to the students.
Rate = 10%
Time = 1 year
Simple Interest
= 20000 x 10 x 1 x 1/100
= ₹2000
Total scholarships = 5
Value of each scholarship
= 2000/5
= ₹400
Every year 5 scholarships of ₹400 each are given to the students.
Answered by
4
Principal = 20000
Rate = 10%
Time = 1 year
Simple Interest
= 20000 x 10 x 1 x 1/100
= ₹2000
Total scholarships = 5
Value of each scholarship
= 2000/5
= ₹400
Every year 5 scholarships of ₹400 each are given to the students.
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