Question

Randhir donates 5000 to a school the interest of which is to be used for awarding 10 scholarships of equal value every year .If the donation earns an interest of 11% per annum find the value of each scholarship.

Answer 1

P = ₹5000
R =11%
T = 1year
Therefore S.I = ₹(5000×11×1)/100
= ₹ 55000/100
= ₹ 550
Total no. of scholarships given= 10
Value of each scholarship = ₹ 550/10 = ₹55
Hope this helps.

Answer 2

The value of each scholarship is 55

Given:

Principal (P) = ₹5000

Rate of interest = 11%

Time = 1 year

Total scholarship = 10

To find:

The value of each scholarship.

Solution:

Simple interest (SI) = P×R×T/100

Substituting the values,

SI =$(5000 * 11 * 1)/100$

SI =$550$

The total number of scholarships is equal to 10.

The value of one scholarship is $550/10=55$

Therefore, the value of each scholarship is 55

#SPJ3