Mrs puran devi donated rupees 100000 to a trust on the condition that interest earned will be used for awarding 3scholarship of equal value every year if donation earn 12% per annum find the value of each scholarship
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Mr Puran Devi donated rupees 1 lakh and
every year, she earns interests 12% per annum.
therefore, total earned interest is
=1,00,000×12%= ₹ 12,000
according to question, that earned interest will be used for providing three scholarships equal value every year.
the value of each scholarship is
=12000÷3 = ₹ 4000
Step-by-step explanation:
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