Math, asked by traderssatyam226, 27 days ago

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.​

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Answered by mujeebuddinahmed843
1

Answer:-

Hence the the required rate of interest when the interest is used for awarding five scholarships of equal value is 7.5%.

hope it helps...

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Answered by manojchauhanma2
1

Answer:

Therefore, the required rate of interest when the interest is used for awarding five scholarships of equal value is 7.5%. Note: ... Hence, this is also known as 'interest on interest'.

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