CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Super Profit Method

Find the amou...

Question

Find the amount of Rs 30,000 from 15-th January, 2010 to 10-th August, 2010 at 12% per annum.

Open in App

Solution

P = Rs. 30000,

R = 12%,

We can now calculate the amount as:

Suggest Corrections

thumbs-up

0

Similar questions

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

Q. Find the simple interest on

R s . 3, 000

16

% per annum for the period from

4 t h

2010

16 t h

2010

Q. What will be day of the week 25^th August, 2010?

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. On 1st January, 2010, Arun purchased from Barun goods invoiced at ₹ 10,000. On the same date, Barun drew upon Arun a bill for the amount at 2 months and Arun accepted the same. On 4th January, 2010, Barun got the bill discounted with his bank @12% per annum. On due date, Arun told Barun that he was not in a position to pay the full amount and requested Barun to accept ₹ 5,000 in cash and draw a fresh bill at 2 months for the remaining amount plus interest at 15% per annum, Barun agreed. The second bill was duly met on the due date.
Give journal entries to record the above transactions in the books of Barun.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Valuation of Goodwill

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Super Profit Method

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon