# An old lady Krishna Devi deposited Rs. 12000 in a bank at 8% simpleinterest p.a. She uses the annual interest to give five scholarships to thestudents of a school for their overall performances each year. The amountof each scholarship is 300 less than the preceding scholarship. Answerthe following(i) Find amount of each scholarship?

(ii) What values of the lady are reflected?

## EXPERT ANSWER

Vipin Verma , Meritnation Expert added an answer, on 10/2/14

Here the principal is 12000Rs

Rate = 8% , time is 1 year

So SI = (12000*8*1)/100 = 960Rs

And this is the amount given as scholarship.

Let the highest scholar ship amount be xRs

So the preceeding scholarship will be x-300, x -600,x -900, x -1200

So x +( x -300 ) + ( x-600 ) +(x-900) + (x-1200) = 960

5x - 3000 = 960

5x = 3960

x = 3960/5 =792Rs

So the highest scholarship is 792Rs

Preceeding scholarships will be 792 - 300 = 492 , 792-600 = 192

So only three students can get the scholarship by given data, others are coming negative, please check your question.

Rate = 8% , time is 1 year

So SI = (12000*8*1)/100 = 960Rs

And this is the amount given as scholarship.

Let the highest scholar ship amount be xRs

So the preceeding scholarship will be x-300, x -600,x -900, x -1200

So x +( x -300 ) + ( x-600 ) +(x-900) + (x-1200) = 960

5x - 3000 = 960

5x = 3960

x = 3960/5 =792Rs

So the highest scholarship is 792Rs

Preceeding scholarships will be 792 - 300 = 492 , 792-600 = 192

So only three students can get the scholarship by given data, others are coming negative, please check your question.

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