A person desires to create an endowment fund to provide a prize of Rs.500 everyyear. If the fund can be invested at 10% p.a. C.I, find the amount of theendowment?

• Given:
  fund=500
  interest=10%(i.e., (10/100=0.1)
  By applying the formula,
  amt of endowment=(fund/interest)=(500/0.1)=Rs. 5000/-
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