# Mr. Punjwanis Saving Account Passbook Had the Following Entries, the Bank Pays Interest at 4.5°/O on All Sb Accounts - Mathematics

Sum

Mr. Punjwanis saving account passbook had the following entries, The bank pays interest at 4.5°/o on all SB accounts. Find the amount received by Mr. Punjwani when he closed the acoount on 2S'h July 08.

 Date Particulars Withdrawls Deposits Balance 05.01.2008 By B/F 24650.00 09.01.2008 By cash 14390.00 39040.00 15.02.2008 To Cheque 7600.00 31440.00 21.02.2008 By Cheque 8350.00 39790.00 07.03.2008 To Cash 4000.00 35790.00 31.03.2008 By Interest 08.04.2008 By Cheque 13670.00 12.04.2008 To Cash 6000.00 01.05.200 By Cheque 17350.00 16.06.2008 By Cash 9000.00 27.06.2008 To Cash 4370.00 04.07.2008 By Cheque 21320.00 11.07.2008 To Cheque 9460.00 c

#### Solution

 Months Minimum balance between 10th day and the last day Jan 39040 Feb 31440 Mar 35790

Principal at the end of march =Rs 106270

Interest = (106270 xx 4.5 xx 1)/(100 xx 12) = 398.51

So the interest is Rs 399

After substituting th is interest the pass book is as follows:

 Date Particulars Withdrawls Deposits Balance 05.01.2008 By B/F 24650.00 09.01.2008 By cash 14390.00 39040.00 15.02.2008 To Cheque 7600.00 31440.00 21.02.2008 By Cheque 8350.00 39790.00 07.03.2008 To Cash 4000.00 35790.00 31.03.2008 By Interest 399.00 36189.00 08.04.2008 By Cheque 13670.00 49859.00 12.04.2008 To Cash 6000.00 43859.00 01.05.200 By Cheque 17350.00 61209.00 16.06.2008 By Cash 9000.00 70209.00 27.06.2008 To Cash 4370.00 65839.00 04.07.2008 By Cheque 21320.00 87159.00 11.07.2008 To Cheque 9460.00 77699.00

Net Money that Mr. Punjwani will get is Rs 77,699/-.

Is there an error in this question or solution?

#### APPEARS IN

Frank ICSE Class 10 Mathematics Part 2
Chapter 3 Banking
Exercise 3.1 | Q 8 | Page 46