Question

Mr Jane donates ? 1 lakh to a school and the interest on it is to be used for awarding
five scholarships of equal value. If the value of each scholarship is ? 1,500, find the rate
of interest.​

Answer 1

Answer:

Ambitious

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

it is known to us 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 %

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Answer 2

Answer:

RATE OF INTEREST =7.5%

MARK AS BRAINLIEST.