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Nobel Prize is awarded every year for outstanding achievement in the fields of science, literature and fore promoting world peace. Under this prize, the winner gets a gold medal, a certificate and a large sum of money. The Nobel Prize is the world’s most important prize. The prize is given to the persons with most outstanding contributions in six fields, namely physics, Chemistry, literature, Physiology or medicine, peace and economics was added in the list in 1969 for the first time. One prize is awarded in each field. If there are more than one. Recipient of the prize in one field, the prize money is equally distributed amongst all the winners.
The prize was instituted by man who was the inventor of the science of distribution. This scientist was Alfred Bernard Nobel. He was born in Stockholm on October 21, 1833 , and died on December 10, 1869. Though he was a citizen of Sweden, he was educated in Russia, he invented dynamite. This material is widely used for breaking rocks, digging petrol well and in wars. For this valuable discovery. Nobel becomes famous all over the world. He earned a huge sum of money by selling it. At the time of his death in 1869, Nobel left behind a fabulous sum 90, 00, 000 dollars. He left a will indicating that the interest on this money should be given as prizes to persons for their outstanding contributions to physics, Chemistry, medicine, literature and peace. This prize was named as Nobel Prize. The first Nobel Prize was given to Roentgen on 10th December, 1901 for this outstanding research in X-ray. This Prize money was 40, 000 dollars. The winners of this Prize are treated with great respect all over the world.