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Question
A page from the saving bank account of Priyanka is given below:
| Date | Particulars | Amount withdrawn(₹) |
Amount deposited (₹) |
Balance (₹) |
| 3/4/2006 | B/F | - | - | 4,000·00 |
| 5/4/2006 | By Cash | - | 2,000·00 | 6,000·00 |
| 18/4/2006 | By cheque | - | 6,000·00 | 12,000·00 |
| 25/5/2006 | To cheque | 5,000·00 | - | 7,000·00 |
| 30/5/2006 | By cash | - | 3,000·00 | 10,000·00 |
| 20/7/2006 | By self | 4,000·00 | - | 6,000·00 |
| 10/9/2006 | By cash | - | 2,000·00 | 8,000·00 |
| 19/9/2006 | To cheque | 1,000·00 | - | 7,000·00 |
If the interest earned by Priyanka for the period ending September 2006 is Rs. 175, find the rate of interest.
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Solution
Principal for the month of April = ₹ 6,000
Principal for the month of May = ₹ 7,000
Principal for the month of June = ₹ 10,000
Principal for the month of July = ₹ 6,000
Principal for the month of August = ₹ 6,000
Principal for the month of September = ₹ 7,000
Total Principal for one month = ₹ 42,000
P = ₹ 42,000,
R = r% per annum, T = `(1)/(12)`
I = ₹ 175
Thus,
I = `"PRT"/(100)`
175 = `(42,000 xx r)/(100) xx (1)/(2)`
r = `(175 xx 12)/(420)`
= 5%
RELATED QUESTIONS
A page from a savings bank account passbook is given below:
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Amount Deposited (Rs.) |
Balance (Rs.) |
| Jan 7, 2016 | B/F | 3,000.00 | ||
| Jan 10, 2016 | By Cheque | 2600.00 | 5600.00 | |
| Feb 8, 2016 | To Self | 1500.00 | 4100.00 | |
| Apr 6, 2016 | By Cheque | 2100.00 | 2000.00 | |
| May 4, 2016 | By Cash | 6500.00 | 8500.00 | |
| May 27, 2016 | By Cheque | 1500.00 | 10000.00 |
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2) If the account is closed on 1st July 2016, find the amount received by the account holder.
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