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Question
Mr. Burman open a saving back account with Bank of India on 3rd April 2007 with a cash deposit of Rs 5,000/-. Subsequently, he deposited Rs 16,500/- by cheque on 11th April 2007, withdraw Rs 4,000/- on 10th May, paid Rs 3,500 for insurance by cheque on 7th July 2007, deposited Rs. 6,000/- in cash on 9th August 2007 and withdrew Rs 1,500/- on 12th Oct 2007.
Make the entries in his passbook
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Solution
Make the entries in his passbook There are 5 columns in a passbook:
a) Date,
b) Particulars,
c) Withdrawals,
d) Deposits,
e) Balance.
Date is the date of the transaction, Particular is the details of the transaction primarily the name, Withdrawal is the amount that has been taken out from acoount, Deposit is the amount that has been given to the acoount, balance is net amount remaining in the account after subtracting I Adding the amount as applicable. Keeping this in mind, the passbook entry will look as below:
| Date | Particular | Withdrawals | Deposits | Balance |
| 03.04.2007 | By cash | 5,000.00 | 5,000.00 | |
| 11.04.2007 | By Cheque | 16,500.00 | 21,500.00 | |
| 10.05.2007 | To Self | 4,000.00 | 17,500.00 | |
| 07.07.2007 | By Cheque | 3,500.00 | 14,000.00 | |
| 09.08.2007 | By cash | 6,000.00 | 20,000.00 | |
| 12.10.2007 | To Self | 1,500.00 | 18,500.00 |
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Fill in the blanks in the table.
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| 8000 | 5% | ...... | 800 | ...... |
