Question

Also, calculate the interest when the principal for every month is taken as the nearest multiple of Rs. 10.

Date	Particulars	Withdrwals (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

• A. $Rs.94.10$
• B. $Rs.72.73$
• C. $Rs.61.25$
• D. $Rs.81.85$

Answer 1

The correct option is D $Rs.81.85$

In bank The minimum balance From 10th date to last day of month

Then Product of month January, Fer bury =$1080\times 2=2160$

Or Product of month march ,April ,may ,June , July = $750\times 5=3750$

Or Product of month August ,September=$1990\times 2=3980$

Or product of month October,November and December=$1740\times 3=5220$

Then total product for year 2010=2160+3750+3980+5220=15110 Rs

Then interest Payable @6.5% p.a=$\frac{15110\times 6.5}{100\times 12}=81.85$ Rs