Mr Jane denotes $1 lakh to a school and the intrest on it is used to be for awarding five scholarships of equal value of each scholarship is $1,500, find the rate of interest.
Answers
Answer:
Hi ,friend
Here is your answer
Principal ( P ) = Mr.Jane donated amount
P = Rs 100000
Each scholarship value = Rs 1500
Value of 5 scholarships = 5 × 1500 = Rs7500
Interest ( I ) = value of 5 scholarships
I = Rs 7500
Rate of intersest per annum = R %
Time ( T ) = 1 year
We know that ,
I = ( PTR ) / 100
R = ( I × 100 ) / ( P × T )
R = ( 7500 × 100 ) / ( 100000 × 1 )
R = 75 / 10
R = 7.5 %
Rate of interest = R = 7.5 %
Step-by-step explanation:
please mark me as brainliest and hope it's help you a lot mate
Answer:
7.5%
Step-by-step explanation:
p=rs 100000
Each scholarship value=rs 1500
Value of 5 scholarships =5×1500=7500
SI (simple interest)=rs 7500
R (rate of interest)=R%
T=1 years
We apply the formula
SI = P×R×T/100
7500 = 100000×R×1/100
7500×100/100000×1
R =75/10
R =7.5%
HOPE THIS IS HELPFUL FOR YOU