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Question 125 A memorial trust donates ₹ 500000 to a school, the interest on which is to be used for awarding 3 scholarships to students obtaining first three positions in the school examination every year. If the donation earns an interest of 12% per annum and the values of the second and third scholarships are ₹ 20000 and ₹ 15000 respectively, then find out the value of the first scholarship. |
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Answer» Question 125 A memorial trust donates ₹ 500000 to a school, the interest on which is to be used for awarding 3 scholarships to students obtaining first three positions in the school examination every year. If the donation earns an interest of 12% per annum and the values of the second and third scholarships are ₹ 20000 and ₹ 15000 respectively, then find out the value of the first scholarship. |
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