Question

Mr. Arnab holds an account in the Union Bank. Following are the details of his passbook.

$\begin{array}{ccccc}Date& Particualrs& Withdrawals(inRs.)& Deposits\left(inRs\right)& Balance\left(InRs\right)\\ \mathrm{08.02.06}& B/F& --------& -------& 8,500.00\\ \mathrm{18.02.06}& ToSelf& 4,000.00& ------& ------\\ \mathrm{12.04.06}& ByCash& ------& 2,238& ------\\ \mathrm{15.06.06}& ToSelf& 5,000.00& ------& ------\\ \mathrm{08.07.06}& ByCash& ------& 6,000& ------\end{array}$

Complete the details of his passbook and calculate the interest for the period of six months that is from February to July 2006, at 9% per annum.

• A. Rs 82.58
• B. Rs 152.35
• C. Rs 142.48
• D. Rs 222.9

Answer 1

The correct option is D

Rs 222.9

$\begin{array}{ccccc}Date& Particualrs& Withdrawals(inRs.)& Deposits\left(inRs\right)& Balance\left(InRs\right)\\ \mathrm{08.02.06}& B/F& --------& -------& 8,500.00\\ \mathrm{18.02.06}& ToSelf& 4,000.00& ------& 4,500.00\\ \mathrm{12.04.06}& ByCash& ------& 2,238& 6,738.00\\ \mathrm{15.06.06}& ToSelf& 5,000.00& ------& 1,738.00\\ \mathrm{08.07.06}& ByCash& ------& 6,000& 7,738.00\end{array}$

Minimum balance for the month of Feb. = Rs 4500

Minimum balance for the month of Mar. = Rs 4500

Minimum balance for the month of Apr. = Rs 4500

Minimum balance for the month of May = Rs 6740

Minimum balance for the month of June = Rs 1740

Minimum balance for the month of July = Rs 7740

Total = Rs 29720

Interest = P $\times$ R $\times$ $\frac{T}{100}$ = 29720$\times$ 9 $\times$ $\frac{1}{(100\times 12)}$

= Rs 222.9