Mr Jane donates rupees 100000 to a school and the interest on it is to be used for awarding 5 scholarships of equal value if the value of each scholarship is Rupees 1500 find the rate of interest
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Step-by-step explanation:
5(P*R*T/100)=100000
5(1500*R*1)=100000
1500*R=20000
R= 20000/1500
R= 200/15
R= 100/3
R= 33.3
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