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Question
Given below is a page from the passbook of the savings bank account of Mr. Rajesh. Complete the entries in the passbook and calculate the interest paid to him by the bank at 6°/o pa in the end of June.
| Date | Particulars | Withdrawals | Deposits | Balance |
| 08.02.2008 | By Cash | 12000.00 | ||
| 15.03.2008 | To cash | 3000.00 | ||
| 08.04.2008 | To Cheque | 2500.00 | ||
| 18.04.2008 | By Cash | 16000.00 | ||
| 10.06.2008 | By Cash | 800.00 |
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Solution
| Date | Particulars | Withdrawals | Deposits | Balance |
| 08.02.2008 | By Cash | 12000.00 | 12000.00 | |
| 15.03.2008 | To cash | 3000.00 | 9000.00 | |
| 08.04.2008 | To Cheque | 2500.00 | 6500.00 | |
| 18.04.2008 | By Cash | 16000.00 | 22500.00 | |
| 10.06.2008 | By Cash | 800.00 | 30500.00 |
| Months | Minimum balance between 10th day and the last day |
| Feb. | 12000 |
| Mar. | 9000 |
| Apr. | 6500 |
| MAy | 22500 |
| June | 30500 |
Total Principal at the end of June = R.s 80,500
Interest = `(80500 xx 6 xx 1)/ (100 xx 12) = 402.50` (Rs 4.3 approx.)
Hence, Mr. R.ajesh will get R.s 403/- as interest amount towards the end of June 2008.
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