THE NOBEL PRIZE
Each year on December 10, the Alfred Nobel Foundation presents six prizes. These prizes are named after Alfred Nobel, the man who invented dynamite. It was Mr. Nobel's idea to create the prizes. During his life, Mr. Nobel made a lot of money through interest from the bank. The money grew to be a very large amount.
Mr. Nobel decided that he wanted to use his money to help scientists, artists, and people who worked to help others around the world. He created the Nobel Prizes to do this.
The prizes set up by Mr. Nobel include physics, medicine, chemistry, literature, and peace. These five Nobel Prizes were first given out in 1901. Later, the Central Bank od Sweden made the Alfred Nobel Memorial Prize in Economic Sciences in 1968 to celebrate the bank's 300th year of business. All of the prizes are handed out in Stockholm except for the Peace Prize, which is presented in Oslo.
Each person who receives a Nobel Prize is given a cash prize, a medal, and a special paper which explains the prize the person won. The amount of money that each person receives ia calculated from the interest earned from all of Mr. Nobel's money which is still in the bank. This interest is divided equally between the five prize winners in physics, medicine, chemistry, literature, and peace. The Central Bank of Sweden then pays an equal amount to the winner of the prize in economics.
The most Nobel Prizes awarded to one person or group have gone to the International Committee of the Red Cross. This organization has received three Peace Prizes. (286 words)
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