Mr Jain donate 1 lakh to school and interest on it is to be used for awarding 5 scholarship of equal value if the value of each scholarship is 1500 find the rate of interest
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Mr Jain donate 1 lakh to school and interest on it is to be used for awarding 5 scholarship of equal value if the value of each scholarship is 1500 find the rate of interest
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Answer:
heya ur answer is here
Step-by-step explanation:
Principal(P)=Mr.Janedonates
P=Rs.100000
Eachscholarshipvalue=Rs.1500
Valueof5scholarship=5×1500
Rs=7500
Interest(i)=valueof5scholarships
I=Rs.7500
Rateofinterestperannum=R%
Time(T)=1year
weknowthat
I=(PTR)/100
R=(1×100)/(P×T)
R=
(100000×1)
(7500×100)
R=
10
75
R=7.5%
RateofinterestRs.7.5%
hope it helps uh.....
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