#### Question

Given below are the entries in a Saving Bank A/c passbook.

Date |
Particulars |
Withdrawals |
Deposit |
Balance |

Feb8 | B/F | - | - | Rs. 8500 |

Feb 18 | To self | Rs. 4000 | - | |

April 12 | By cash | - | Rs. 2230 | |

June 15 | To self | Rs. 5000 | - | |

July 8 | By cash | - | Rs. 6000 |

Calculate the interest for six months from February to July at 6% p.a.

#### Solution

On completing the given passbook, we get

Date |
Particulars |
Withdrawals |
Deposit |
Balance |

Feb8 | B/F | - | - | Rs. 8500 |

Feb 18 | To self | Rs. 4000 | - | Rs. 4500 |

April 12 | By cash | - | Rs. 2230 | Rs. 6730 |

June 15 | To self | Rs. 5000 | - | Rs. 1730 |

July 8 | By cash | - | Rs. 6000 | Rs. 7730 |

Principal for the month of Feb = Rs. 4500

Principal for the month of March = Rs. 4500

Principal for the month of April = Rs. 4500

Principal for the month of May = Rs. 6730

Principal for the month of June = Rs. 1730

Principal for the month of July = Rs. 7730

Total Principal for 1 month = Rs. (4500 + 4500 + 4500 + 6730 + 1730 + 7730)

= Rs. 29690

P = Rs 29690, T = `1/12`year, R = 6%

∴Interest = `(29690 xx 6 xx 1)/(100 xx 12)`

= Rs 148.45

Is there an error in this question or solution?

#### APPEARS IN

Solution Given Below Are the Entries in a Saving Bank A/C Passbook. Calculate the Interest for Six Months from February to July at 6% P.A. Concept: Computation of Interest.