Mr.Birla donated ₹200000 to a school, the interest on which is to be used to award 10 scholarships of equal value every year. if this donation earns a simple interest of 10% every year, then the value of each of the scholarships will be what?
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the simple interest is 10% then total interest = 200000*10*1/100 = 20000
then value of each scholarship is = 20000/10 = 2000rs
then value of each scholarship is = 20000/10 = 2000rs
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