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Types of Accounts and Products

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Question

A page from a savings bank account passbook is given.
Date Particulars Amount Withdrawn(Rs.) Amount Deposited(RS.) Balance(Rs.)
Jan. $7, 2016$ B/F $3000.00$
Jan $10, 2016$ By Cheque $2600.00$ $5600.00$
Feb. $8, 2016$ To self $1500.00$ $4100.00$
Apr. $6, 2016$ By Cheque $2100.00$ $2000.00$
May $4, 2016$ By Cash $6500.00$ $8500.00$
May $27, 2016$ By Cheque $1500.00$ $10000.00$

(I) Calculate the interest for the $6$ months from January to June $2016$ , at $6 %$ per annum.
(II) If the account is closed on $1^{s t}$ July $2016$ , find the amount received by the account holder.

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Solution

Months Minimum Balance
January Rs.3000
February Rs.4100
March Rs.4100
April Rs.2000
May Rs.8500
June Rs.10000
Total Rs.31700
$(I)$ Interest $= \frac{P R T}{100}$
$= \frac{31700 \times 6 \times 1}{100 \times 12}$
$= R s .158 .50$
$(I I)$ Amount received by the account holder $= R s .10000 + R s .158 .50 = R s .10158 .50$

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Q. Virat opened a Saving Bank account in a bank on

16^{t h}

2010

. His pass book shows the following entries:

Date	Particulars	Withdrawal (Rs.)	Deposit (Rs.)	Balance (Rs.)
April $16^{t h}$	By cash	___	$2500$	$2500$
April $28^{t h}$	By cheque	___	$3000$	$5500$
May $9^{t h}$	To cheque	$850$	___	$4650$
May $15^{t h}$	By cash	___	$1600$	$6250$
May $24^{t h}$	To cash	$1000$	___	$5250$
June $4^{t h}$	To cash	$500$	___	$4750$
June $30^{t h}$	By cheque	___	$2400$	$7150$
July $3^{r d}$	By cash	___	$1800$	$8950$

Calculate the interest Virat earned at the end of

31^{s t}

2010

4 %

per annum interest. What sum of money will he receive if he closes the account on

1^{s t}

2010

If the interest is calculated at

6 %

p.a. and is compounded at the end of March and September every year, The interest earned up to

31^{s t}

March and then after completing all the entries, find the amount that the account holder would have received had he closed the account on

20^{t h}

Oct. the same year. A page from the passbook of a Saving Book account in a particular year is given below:

Date	Particulars	Debit (Rs.)	Credit (Rs.)	Balance (Rs.)
Jan. $13$	By Cash		$5, 000.00$	$5, 000.00$
Feb. $13$	To self	$500.00$
March $24$	By Cheque		$2, 000.00$
March $31$	By Interest
May $20$	By Cash		$800.00$
July $7$	To Cheque	$1, 400.00$
July $18$	By Cash		$1, 600.00$
Sept. $15$	To Cheque	$3, 200.00$
Sept. $26$	By Cheque		$2, 350.00$

Q. A page from the saving bank account of Mrs. Ravi in the year

2006

is given below:

Date	Particulars	Withdrawal (Rs)	Deposit (Rs)	Balance (Rs)
April $3^{r d}$	B/F	-	-	$6, 000$
April $7^{t h}$	By Cash	-	$2, 300$	$8, 300$
April $15^{t h}$	By cheque	-	$3, 500$	$11, 800$
May $20^{t h}$	To Self	$4, 200$	-	$7, 600$
June $10^{t h}$	By cash	-	$5, 800$	$13, 400$
June $15^{t h}$	To self	$3, 100$	-	$10, 300$
August $13^{t h}$	By cheque	-	$1, 000$	$11, 300$
August $25^{t h}$	To self	$7, 400$	-	$3, 900$
September $6^{t h}$	By cash	-	$2, 000$	$5, 900$

She closed the account on

30^{t h}

2006

. Calculate the interest Mrs. Ravi earned at the end of

30^{t h}

2006

4.5 %

per annum interest. Hence find the amount she receives on closing the account.

Q. A page from the Saving Bank Account of Mr. Prateek is given below:

Date	Particulars	Withdrawal (In Rs.)	Deposit (In Rs.)	Balances (In Rs.)
Jan $1^{s t}$ $2006$	B/F	-	-	$1, 270$
Jan. $7^{t h}$ $2006$	By Cheque	-	$2, 310$	$3, 580$
March $9^{t h}$ $2006$	To Self	$2, 000$	-	$1, 580$
March $26^{t h}$ $2006$	By Cash	-	$6, 200$	$7, 780$
June $10^{t h}$ $2006$	To Cheque	$4, 500$	-	$3, 280$
July $15^{t h}$ $2006$	By Clearing	-	$2, 630$	$5, 910$
October $18^{t h}$ $2006$	To Cheque	$530$	-	$5, 380$
October $27^{t h}$ $2006$	To Self	$2, 690$	-	$2, 690$
November $3^{r d}$ $2006$	By cash	-	$1, 500$	$4, 190$
December $6^{t h}$ $2006$	To Cheque	$950$	-	$3, 240$
December $23^{r d}$ $2006$	By Transfer	-	$2, 920$	$6, 160$

If he receives Rs.

198

1^{s t}

2007

, find the rate of interest paid by the bank.

Mr. Mishra has a savings bank account in Allahabad bank. His pass book entries are as follows:

Rate of interest paid by bank is 4.5 % per annum. Mr. Mishra closes his account on 30th Oct. Find the interest he receives.

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