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John had a Sa...

Question

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.
Find the amounts on which John will get interest for the months of April, $2011$ and May, $2011$ .
Date Particular 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 $1, 500.00$ $5, 500.00$

Rs.

5000

, Rs.

5500

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Rs.

5000

, Rs.

2500

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Rs.

2500

, Rs.

5000

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Rs.

2500

, Rs.

2500

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Solution

The correct option is A Rs. $5000$ , Rs. $5500$
According to the entries in the passbook:
The minimum balance after $10^{t h}$ April $2011$ and up to last of April $2011$ is Rs. $5000$ .
$∴$ the amount on which John will earn interest for the month of April $2011 =$ Rs. $5000$ .
Similarly the minimum balance after $10^{t h}$ May $2011$ and up to last of May $2011$ is Rs. $5500$
$∴$ the amount on which John will earn interest for the month of May $2011 =$ Rs. $5500$ .

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Similar questions

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

16^{t h}

April,

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}

July,

2010

4 %

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

1^{s t}

August,

2010

Prepare a Bank Reconciliation Statement as on 30^thApril 2011 from the following information.

(i) Credit balance as per cash book Rs 17,500

(ii) Cheque of Rs 158 issued and presented for payment but wrongly recorded in the pass book as Rs 185.

(iii) Out of the cheques amounting to Rs 15,000 deposited into the bank only cheques of Rs 9,500 collected till 30^thApril 2011.

(iv) A bill of exchange of Rs 5,000 discounted with the bank previously, now dishonoured for non-payment by the bank entry for dishonour is not passed in the cash book.

(v) Out of the cheques amounting to Rs 9,500 issued suppliers on different dates, cheques of Rs 2,500 were presented for payment on 5^th May, 2011 and the remaining were presented and paid in the month of April 2011.

(vi) Our customer directly deposited Rs 3000 into our bank A/c without our knowledge

(vii) Interest on overdraft Rs 700 and telephone charges Rs 550 were debited in the pass book, not recorded in the Cash Book till 30th April.2011.

Q. A dealer pays following VAT @ of 14% on 20th April Rs. 2500, 20th May Rs. 1200. Find his sales for March and April.

Enter the following transactions of Hariram Bros. in a cash book with cash and bank columns for the month of May, 2011:

2011 May
1.	Cash Balance Rs 33,000, Bank Balance Rs 8,000.
3.	Received from Prerna cash Rs 2,750 and a bearer cheque for Rs 645.
6.	Paid to Arjun Rs 5,300 by cheque and discount received Rs 125.
8.	Cash sales Rs 5,645 and discount allowed Rs 55.
10.	Cheque received on 3rd May, 2011 deposited into the bank for collection.
12.	Deposited into bank Rs 4,000.
15.	Cheque received from Prerna returned dishonoured.
18.	Purchased goods from Indrajit Rs 4,000 at 8% trade discount and paid half the amount immediately.
20.	Bank paid insurance premium under our standing instruction Rs 1,950 and collected interest on investment Rs 3,650.
22.	Cheque issued to Arjun was dishonoured.
24.	Lucky Stores directly deposited into our bank Rs 9,500.
25.	Paid salaries by cheque Rs 5,700.
26.	Withdrew by cheque Rs 2,000 for office use and Rs 1,500 for personal use.
31.	Deposited into bank all cash in excess of Rs 5,000.

Enter the following transactions in a cash book with cash and bank and columns for the month of April, 2011:

2011 Apr.
1.	Started business with cash Rs 30,000.
2.	Opened a current account with bank and deposited Rs 9,000.
5.	Received Rs 4850 for cash sales and discount allowed Rs 50.
6.	Purchased goods of Rs 3,000 at 10% cash discount, half the amount was paid by cash and remaining by cheque.
9.	Received a crossed cheque for Rs 7,775 from Megha Associates and discount allowed Rs 25.
12.	Purchased machinery of Rs 13,300 and paid for installation Rs 700.
15.	Received a bearer cheque of Rs 737 from Rahul in settlement of his account Rs 800.
17.	Deposited into the bank Rs 2,000.
20.	Transferred Rs 8,000 from proprietor’s savings account to Current account.
22.	Received a bearer cheque from Vinod Rs 2,230.
24.	Deposited the cheque received from Vinod into the bank.
27.	Bank informed that cheque received from Vinod is dishonoured.
28.	Paid for printing bill book Rs 660.
30.	Withdrew from bank for office use Rs 1,000.

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Date	Particular	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	$1, 500.00$		$5, 500.00$