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Given Below is a Page from the Passbook of a Saving Bank Account that Mr. Sharma Has with Sbi. If the Bank Gives Interest at 6%Pa, Find - Mathematics

Sum

Given below is a page from the passbook of a saving bank account that Mr. Sharma has with SBI. If the bank gives interest at 6%pa, find 

The principal amount in January, February and March which will be considered for interest for interest calculation.

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Solution

Date Particulars Withdrawals Deposits Balance Qualifying amount
05.01.2008 By Cash   15500.00 15500.00 15500.00
10.01.2008 To Cheque 4800.00   10700.00 10700.00
15.02.2008 To Cheque 5300.00   5400.00 5400.00
08.03.2008 By Cash   19200.00 24600.00 24600.00
17.03.2008 By Cheque   7400.00 32000.00 24600.00

January : Rs. 10,700.00/- as this is minimum of 10th and 31st Jan 
February : Rs. 5,400.00/- as this is minimum of 10th and 28th Feb

March : Rs. 24,600.00/- as this is minimum of 10th  and 31st March (including 17th March) 

Concept: Introduction to Banking
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APPEARS IN

Frank ICSE Class 10 Mathematics Part 2
Chapter 3 Banking
Exercise 3.1 | Q 3.1 | Page 45
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