Question

The opening balance of Prize fund was `1,00,000 and 5% Prize fund Investments were `1,00,000. During the
year, donations received towards this fund amounted to `15,400; amount spent on Prizes was `12,300 and
interest received on Prize fund investment was `4,000. The closing balance of Prize fund will be:
(a) `2,07,100 (b) `1,08,100 (c) `99,100 (d) `1,07,100

Answer 1

Answer:

Rs.39,900

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