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Question
A page from the passbook of Mrs. Rama Bhalla is given below:
Calculate the interest due to Mrs. Bhalla for the period from January 2004 to December 2004, at the rate of 5% per annum.
| Date Year 2004 |
Particulars | Amount (₹) Withdrawals |
Amount (₹)Deposits |
Balance (₹) |
| January 1 | B/F | - | - | 2,000.00 |
| January 9 | By cash | - | 200.00 | 2,200.00 |
| February 10 | To cheque | 500.00 | - | 1,700.00 |
| February 24 | By cheque | - | 300.00 | 2,000.00 |
| July 29 | To cheque | 200.00 | - | 1,800.00 |
| November 7 | By cash | - | 300.00 | 2,100.00 |
| December 8 | By cash | - | 200.00 | 2,300.00 |
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Solution
Min Balance for
Jan. 2004 = ₹ 2,200
Feb. 2004 = ₹ 1,700
March 2004 = ₹ 2,000
April 2004 = ₹ 2,000
May 2004 = ₹ 2,000
June 2004 = ₹ 2,000
July 2004 = ₹ 1,800
Aug. 2004 = ₹ 1,800
Sep. 2004 = ₹ 1,800
Oct 2004 = ₹ 1,800
Nov. 2004 = ₹ 2,100
Dec. 2004 = ₹ 2,300
Total = ₹ 23,500
₹ 23,500 is treated as principal of one month for cal. the interest.
Interest = `("P" xx "R" xx "T")/(100)`
= `(23,500 xx 1 xx 5)/(12 xx 100)`
= ₹ 97.92.
RELATED QUESTIONS
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| Date | Particulars | Debit (In Rs) | Credit (In Rs) | Balance (In Rs) |
| Jan 3 | By cash | 5,000.00 | 5,000.00 | |
| Feb 13 | To self | 500.00 | ||
| March 24 | By cheque | 2,000.00 | ||
| March 31 | By Interest | |||
| May 20 | By cash | 800.00 | ||
| July 7 | To Cheque | 1,400.00 | ||
| July 18 | By cash | 1,600.00 | ||
| Sept 15 | To Cheque | 3,200.00 | ||
| Sept 26 | By Cheque | 2,350.00 |
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| Date | Particulars | Withdrawals(₹) | Deposits(₹) | Balance(₹) |
| Feb. 3, 1981 | By cash | - | 500·00 | 500·00 |
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| March 4 | To withdrawals slip | 1,500·00 | - | 1,850·00 |
| March 31 | To Urnil | 150·00 | - | 1,700·00 |
| April 1 | By salary | - | 2.350·00 | 4,050·00 |
| April 2 | To Sri Ram | 1,800·00 | - | 2,250·00 |
| May 1 | By salary | - | 2,350·00 | 4,600·00 |
| May 3 | To accountant | 2,000·00 | - | 2,600·00 |
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Amount Deposits(₹) | Amount Balance(₹) |
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