Question

fatima donates 20000 rs to a school ,the interest on which is to be used for awarding 5 scholarships of equal value every year. If the donater earns an interest of 10% per annum,find the value of each scholarship

Answer 1

Answer: ₹400

Explanation:

The interest is 10% of ₹20,000 which is;

= 10% * 20,000

= ₹2,000

It is to be awarded to 5 scholarships of equal value. Each scholarship is there valued at;

= 2,000/5

= ₹400