Advertisement Remove all ads

A Man Opened a Savings Bank Account with a Bank on 22nd Feb., 1998 and Deposited Rs. 300. He Further Deposited Rs. 1,500 on 5th March 1998 and Withdrew Rs. 500 on 12th April 1998. - Mathematics

A man opened a savings bank account with a bank on 22nd Feb., 1998 and deposited Rs. 300. He further deposited Rs. 1,500 on 5th march 1998 and withdrew Rs. 500 on 12th April 1998. Assuming that he neither deposited not withdrew any money up to the last day of May 1998; write the amounts on which he would receive interest for:
(i) Feb., 1998 (ii) March, 98 (iii) April, 98 (iv) May, 98

Advertisement Remove all ads

Solution

Balance on `22^"nd"` Feb. = Rs. 300
Balance on`5^"th"` March = Rs. 300 + Rs. 1,500 = Rs. 1,800
Balance on `12^"th" April = Rs. 1,800 – Rs. 500 = Rs. 1,300
(i) Minimum balance for the month of Feb. = Nil since he opens the account after 10th of the month.
(ii) Minimum balance for the month of March = Rs. 1,800
(iii) Minimum balance for the month of April = Rs. 1,300
(iv) Minimum balance for the month of May = Rs. 1,300

  Is there an error in this question or solution?
Advertisement Remove all ads

Video TutorialsVIEW ALL [1]

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×