9. Randhir donates ₹ to a school, the interest of which is to be used for awarding scholarships of equal value every year. If the donation earns an interest of per annum, find the value of each scholarship. 10. In how many years will ₹ double itself at simple interest? 11. At what rate of simple interest will a sum of money double itself in years? 12. If ₹ amounts to ₹ in years, find the rate per cent per annum.
Answer: 9. ₹ 55 per scholarship; 10. 25 years; 11. 5% per annum; 12. 7% per annum
Step-by-step solution
Step 1: Solve Question 9: Value of each scholarship
For Question 9, the principal donation is , the annual interest rate is , and time . Using the simple interest formula , the interest earned each year is . This annual interest is equally distributed among scholarships, giving for each scholarship.
Step 2: Solve Question 10: Time required to double
For Question 10, the principal is . To double itself, the amount becomes , which means the simple interest required is . Using the formula for time with rate , we compute .
Step 3: Solve Question 11: Rate of interest to double in 20 years
For Question 11, let the principal sum of money be . Since the sum doubles in , the simple interest earned equals the principal, so . Applying the rate formula , we get per annum.
Step 4: Solve Question 12: Rate per cent per annum
For Question 12, the principal is , the amount is , and the time period is . The simple interest earned over years is . Using the rate formula , we calculate per annum.