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Question
Mrs. Kapoor opened a Savings Bank Account in State Bank of India on 9th January 2008. Her passbook entries for the year 2008 are given below:
| Date | Particulars | Withdrawals (in ₹) |
Deposits (in ₹) |
Balance (in ₹) |
| Jan. 9, 2008 | By cash | - | 10,000 | 10,000 |
| Feb. 12, 2008 | By cash | - | 15,500 | 25,500 |
| April 6, 2008 | To Cheque | 3,500 | - | 22,000 |
| April 30, 2008 | To Self | 2,000 | - | 20,000 |
| July 16, 2008 | By Cheque | - | 6,500 | 26,500 |
| August 4, 2008 | To Self | 5,500 | - | 21,000 |
| August 20, 2008 | To Cheque | 1,200 | - | 19,800 |
| Dec. 12, 2008 | By Cash | - | 1,700 | 21,500 |
Mrs. Kapoor closes the account on 31st December, 2008. If the bank pays interest at 4% per annum, find the interest Mrs. Kapoor receives on closing the account. Give your answer correct to the nearest rupee.
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Solution
| Month | Minimum Balance (₹) |
| January | 10,000 |
| February | 10,000 |
| March | 25,500 |
| April | 20,000 |
| May | 20,000 |
| June | 20,000 |
| July | 20,000 |
| August | 19,800 |
| September | 19,800 |
| October | 19,800 |
| November | 19,800 |
| Total | ₹2,04,700 |
S.I. = `"PRT"/(100)`
= `(2,04,700 xx 1 xx 4)/(100 xx 12)`
= ₹ 682.33
= ₹ 682.
RELATED QUESTIONS
Mrs Kapoor opened a Savings Bank Account in State Bank of India on 9th January 2008. Her pass book entries for the year 2008 are given below:
| Date | Particulars | Withdrawals (in Rs.) | Deposits (in Rs.) | Balance (in Rs.) |
| Jan 9, 2008 | By Cash | - | 10000 | 10000 |
| Feb 12, 2008 | By Cash | - | 15500 | 25500 |
| April 6, 2008 | To Cheque | 3500 | - | 22000 |
| April 30, 2008 | To Self | 2000 | - | 20000 |
| July 16, 2008 | By Cheque | - | 6500 | 26500 |
| August 4, 2008 | To Self | 5500 | - | 21000 |
| August 20, 2008 | To Cheque | 1200 | - | 19800 |
| Dec. 12, 2008 | By Cash | - | 1700 | 21500 |
Mrs Kapoor closes the account on 31st December 2008. If the bank pays interest at 4% per annum, find the interest Mrs Kapoor receives on closing the account. Give your answer correct to the nearest rupee.
Rishabh has the recurring deposit account in a post office for 3 years at 8% p.a. simple interest. If he gets Rs 9,990 as interest at the time of maturity, find:
1) The monthly instalment.
2) The amount of maturity.
John had a savings bank account in a bank. In the months of april, 97 and May, 97 He had the following entries in his passbook.
| Date | Particulars | Withdrawals (In Rs) | Deposits (In Rs) | Balance (In Rs) |
| April 1 | By Balance | 4,600.00 | ||
| April 7 | By cash | 1,200.00 | 5,800.00 | |
| April 24 | To Cheque | 800.00 | 5,000.00 | |
| May 16 | By Cheque | 2,000.00 | 7,000.00 | |
| May 29 | To Cash | 1,500.00 | 5,500.00 |
Find the amounts on which John will get interest for the months of April, 97 and May 97.
Mr. Sen has a savings bank account with a post office.
(i) calculate the interest earned by Mr. Sen during the year 2010 at 6.5% per annum payable in December if the entries during the year in his passbook are as given below:
| Date | Particulars | Withdrawals (Rs) | Deposits (Rs) |
| 2.1.10 | By cash | 250.00 | |
| 9.1.10 | By Cheque | 825.00 | |
| 13.3.10 | To Cash | 325.00 | |
| 24.7.10 | By Cash | 1,237.00 | |
| 6.10.10 | To Cheque | 250.00 | |
| 22.12.10 | By Cheque | 958.00 |
(ii) Also, calculate the interest when the principal for every month is taken as the nearest multiple of Rs. 10.
Mr. Verma opened a savings bank account with the state bank of India on 5th April 2007 with Rs. 8,500. For the financial year 2007-2008, the other transactions with the bank are given below:
(i) 15-05.2007; deposited Rs. 3,700
(ii) 27-07-2007; withdrew Rs. 2,400
(iii) 06-09-2007; withdrew Rs. 1,600
(iv) 18-12-2007; deposited Rs. 4,500
(v) 29-01-2008; Deposited Rs. 1,900
(vi) 23-03-2008; account closed.
Taking the rate of interest as 6% per annum, find the amount that Mr. Verma gets on closing the account.
Aarushi has a recurring deposit account for 2 years at 6% pa. She receives Rs 1,125 as interest on maturity.
(a) Find the monthly instalment amount.
(b) Find the maturity amount.
Ms. Saha opened a cumulative deposit account of monthly instalment of Rs 1,200 at 9%p.a simple interest. She earned a total interest of Rs 5,328. How much installments did she pay?
A page of Passbook of Mrs. C. Malik Savings Bank Account in year 2002 is given below:
| Date Year 2002 | Particulars | Amount Withdrawn (in ₹) |
Amount Deposited (in ₹) |
Balance (in ₹) |
| Jan. 1 | By Balance | - | - | 2,100·00 |
| Jan. 7 | By Cash | - | 1,000·00 | 3,100·00 |
| Feb. 1 | By Cash | - | 500·00 | 3,600·00 |
| Feb. 15 | To Cheque | 2,000·00 | - | 1,600·00 |
| March 15 | By Cash | - | 2,000·00 | 3,600·00 |
| March 20 | To Cheque | 1,000·00 | - | 2,600·00 |
| June 12 | By Cash | - | 3,000·00 | 5,600·00 |
| June 28 | To Cheque | 1,000·00 | - | 4,600·00 |
| Oct. 15 | To Cheque | 3,000·00 | - | 4,600·00 |
| Nov. 5 | By Cash | - | 1,500·00 | 3,100·00 |
| Dec. 10 | By Cash | - | 500·00 | 3,600·00 |
| Dec. 20 | To Cheque | 1,000·00 | - | 2,600·00 |
If the rate of interest decreases from 5% to 4% with effect from June 1st, 2002, compute the interest at the end of the year.
Shahrukh opened a Recurring Deposit Account in a bank and deposited Rs. 800 per month for `1 1/2` years. If he received Rs. 15,084 at the time of maturity, find the rate of interest per annum.
Suresh has a recurring deposit account in a bank. He deposits ₹ 2000 per month and the bank pays interest at the rate of 8% per annum. If he gets ₹ 1040 as interest at the time of maturity, find in years total time for which the account was held.
