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Standard X

Mathematics

Sum of N Terms of an AP

Virat opened ...

Question

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, $2010$ at $4 %$ per annum interest. What sum of money will he receive if he closes the account on $1^{s t}$ August, $2010$ ?

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Solution

Principal for the month of April $=$ Rs. $0$
Principal for the month of May $=$ Rs. $4, 650$
Principal for the month of June $=$ Rs. $4, 750$
Principal for the month of July $=$ Rs. $8, 950$

Total principal from month of April to July $=$ Rs. $18, 350$
_
Time $= \frac{1}{12}$ year, $R = 4$ %
Interest $= \frac{P R T}{100} = \frac{18, 350 \times 4 \times 1}{100 \times 12}$
$=$ Rs. $61.16$
Amount $=$ Rs. $8, 950 +$ Rs. $61.16$
$=$ Rs. $9, 011.16$

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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	___	$1800$	$8950$