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Mrs puram denoted rs 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarship of equal value every year if donation earns 12% per annum find the interest charged
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Mrs puram denoted rs 100000 to a trust on the condition that interest ...
Answer:
Introduction: Mrs. Puram has donated Rs. 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarships of equal value every year. We need to find the interest charged if the donation earns 12% per annum.
Calculating the Interest:
To calculate the interest earned on the donation, we need to use the following formula:
Interest = (Principal x Rate x Time) / 100
Here, Principal = Rs. 100000, Rate = 12% per annum, and Time = 1 year.
Substituting these values in the formula, we get:
Interest = (100000 x 12 x 1) / 100 = Rs. 12000
So, the interest earned on the donation is Rs. 12000.
Calculating the Value of Each Scholarship:
Since Mrs. Puram has specified that the interest earned should be used for awarding 3 scholarships of equal value every year, we need to calculate the value of each scholarship.
Value of each scholarship = Interest earned / Number of scholarships
Here, Interest earned = Rs. 12000 and Number of scholarships = 3.
Substituting these values in the formula, we get:
Value of each scholarship = 12000 / 3 = Rs. 4000
So, the value of each scholarship is Rs. 4000.
Conclusion:
Therefore, Mrs. Puram's donation of Rs. 100000 will earn an interest of Rs. 12000 per year at a rate of 12% per annum. The interest earned will be used to award 3 scholarships of equal value of Rs. 4000 each every year.
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Mrs puram denoted rs 100000 to a trust on the condition that interest ...
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Mrs puram denoted rs 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarship of equal value every year if donation earns 12% per annum find the interest charged
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Mrs puram denoted rs 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarship of equal value every year if donation earns 12% per annum find the interest charged for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Mrs puram denoted rs 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarship of equal value every year if donation earns 12% per annum find the interest charged covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mrs puram denoted rs 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarship of equal value every year if donation earns 12% per annum find the interest charged.
Mrs puram denoted rs 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarship of equal value every year if donation earns 12% per annum find the interest charged for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Mrs puram denoted rs 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarship of equal value every year if donation earns 12% per annum find the interest charged covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mrs puram denoted rs 100000 to a trust on the condition that interest earned will be used for awarding 3 scholarship of equal value every year if donation earns 12% per annum find the interest charged.
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