Comparing Quantities

A memorial trust donates ₹ 5,00,000 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 cent per annum and the
values of the second and third scholarships are ₹ 20,000 and ₹ 15,000
respectively, find out the value of the first scholarship