Question

Mr jane donates Rs 1 lakh to a school and the interest on it is to be used for awarding five scholarship of equal value.if the value of each scholarship of equal value of each scholarship is RS 1500,find the rate of interest

Answer 1

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 %

Answer 2

Answer:

Hi,

I want to know how you have written time as one year