Solution:
(i) Cumulative Frequency Curve
Plot the points $(8,8),(16,43),(24,78),(32,92)$ and $(40,100)$ to obtain the curve as follows:
Here, $\mathrm{N}=100$
$\mathrm{N} / 2=50$
At $y=50$, affix $A$
Draw a horizontal line through A meeting the curve at B.
A vertical line is drawn through B which meets OX at $M$.
$\mathrm{OM}=17.6$ units
As a result, median income $=17.6$ thousands
(ii) $15 \%$ of 100 students $=(15 \times 100) / 100=15$
From cumulative frequency 15, draw a horizontal line which intersects the curve at $P$.
From $\mathrm{P}$, draw a perpendicular to $\mathrm{x}$ – axis meeting it at $\mathrm{Q}$ which is equal to $9.6$
Therefore, freeship will be awarded to students provided annual income of their parents is upto $9.6$ thousands.