Question

Mr. Sen has a savings bank account with a Post Office. Calculate the interest canted by Mr. Sen during the year $2010$ at $6.5\%$ per annum payable for the month of December if the entries during the year in his passbook are as given below:

Date	Particulars	Withdrwals (Rs.)	Deposits(Rs.)
$\mathrm{2.1.10}$	By Cash		$250.00$
$\mathrm{9.1.10}$	By Cheque		$825.00$
$\mathrm{13.3.10}$	To Cash	$325.00$
$\mathrm{24.7.10}$	By Cash		$1,237.00$
$\mathrm{6.10.10}$	To Cheque	$250.00$
$\mathrm{22.12.10}$	By Cheque		$958.00$

• A. Rs. $78.35$
• B. Rs. $81.71$
• C. Rs. $72.58$
• D. Rs. $82.89$

Answer 1

Answer: (B)

Rs. $81.71$

In bank, the minimum balance From ${10}^{th}$ date to last day of month.

Then Product of month January, Ferbruay $=(250+825)\times 2=$ $1075\times 2=2150$

Product of month march, April, may,June, July $=(1075-325)\times 5=$$750\times 5=3750$

Product of month August, September $=(750+1237)\times 2=$ $1987\times 2=3974$

Product of month October, November and December $=(1987-250)\times 3=$ $1737\times 3=5211$

Then total product for year $2010=2150+3750+3974+5211=15085$.Rs

Then interest Payble at $6.5\%$ p.a for the month of December $=$ $\frac{15085\times 6.5}{100\times 12}=$ Rs. $81.71$