Advertisements
Advertisements
प्रश्न
Mr. Ashok has an account in the Central Bank of India. The following entries are from his passbook:
| Date | Particulars | Withdrawals (₹) |
Deposits (₹) |
Balance (₹) |
| 01-01-05 | B/F | - | - | 1,200·00 |
| 07-01-05 | By cash | 500·00 | 1,700·00 | |
| 17-01-05 | To cheque | 400·00 | - | 1,300·00 |
| 10-02-05 | By cash | - | 800·00 | 2,100·00 |
| 25-09-05 | By cheque | 500·00 | - | 1,600·00 |
| 20-09-05 | By cash | - | 700·00 | 2,300·00 |
| 21-11-05 | To cheque | 600·00 | - | 1,700·00 |
| 05-12-05 | By cash | - | 300·00 | 2,000·00 |
If Mr. Ashok gets Rs. 83.75 as interest at the end of the year where the interest is compounded annually, calculate the rate of interest paid by the bank in his Savings Bank Account on 31st December 2005.
उत्तर
| Month | Minimum Balance between 10th day and last day (in ₹) | Qualifying Amount for interest |
| January | 1,300 | 1,300 |
| February | 1,600 | 1,600 x 8 = 12,800 |
| March | 1,600 | |
| April | 1,600 | |
| May | 1,600 | |
| June | 1,600 | |
| July | 1,600 | |
| August | 1,600 | |
| September | 1,600 | |
| October | 2,300 | 2,300 |
| November | 1,700 | 1,700 |
| December | 2,000 | 2,000 |
| Total | ₹ 20,100 |
Principal for 1 month = ₹ 20,100
Let x be Rate interest
then
Interest = `(20,100 xx x xx 1)/(100 xx 12)`
∴ 83·75 = `(20,100x)/(1,200)`
x = `(83·75 xx 1,200)/(20,100)`
x = 5
∴ Rate = 5%
APPEARS IN
संबंधित प्रश्न
Mr. Britto deposits a certain sum of money each month in a Recurring Deposit Account of a bank. It the rate of interest is of 8% per annum and Mr. Britto gets Rs. 8,088 from the bank after 3 years, find the value of his monthly instalment.
Mrs Kapoor opened a Savings Bank Account in State Bank of India on 9th January 2008. Her pass book entries for the year 2008 are given below:
| Date | Particulars | Withdrawals (in Rs.) | Deposits (in Rs.) | Balance (in Rs.) |
| Jan 9, 2008 | By Cash | - | 10000 | 10000 |
| Feb 12, 2008 | By Cash | - | 15500 | 25500 |
| April 6, 2008 | To Cheque | 3500 | - | 22000 |
| April 30, 2008 | To Self | 2000 | - | 20000 |
| July 16, 2008 | By Cheque | - | 6500 | 26500 |
| August 4, 2008 | To Self | 5500 | - | 21000 |
| August 20, 2008 | To Cheque | 1200 | - | 19800 |
| Dec. 12, 2008 | By Cash | - | 1700 | 21500 |
Mrs Kapoor closes the account on 31st December 2008. If the bank pays interest at 4% per annum, find the interest Mrs Kapoor receives on closing the account. Give your answer correct to the nearest rupee.
Peter has a recurring deposit account in Punjab National Bank at Sadar Bazar, Delhi for 4 years at 10% p.a. He will get Rs 6,370 as interest on maturity. Find
1) monthly installment
2) the maturity value of the account.
Mr. Banerjee opens a recurring deposit account for Rs 3,000 per month at 9% simple interest pa. On maturity, he gets Rs. 1,70,460. Find the period for which he continued with the account.
Zafarullah has a recurring deposit The list price of the television be? 12,500. account in a bank for 3½ years at 9.5% S.I. p.a. If he gets Rs. 78,638 at the time of maturity. Find the monthly instalment.
Amit deposited Rs. 150 per month in a bank for 8 months under the Recurring Deposit Scheme. What will be the maturity value of his deposits, if the rate of interest is 8% per annum and interest is calculated at the end of every month?
Mr. Chaudhary opened a Saving’s Bank Account at State Bank of India on 1st April 2007.
| Date | Particulars | Withdrawals (in ₹) |
Deposits (in ₹) |
Balance (in ₹) |
| 1st April 2007 | By Cash | - | 8,550·00 | 8,550·00 |
| 12th April 2007 | To Self | 1,200·00 | - | 7,350·00 |
| 24th April 2007 | By cash | - | 4,550·00 | 11,900·00 |
| 8th July 2007 | By Cheque | - | 1,550·00 | 13,400·00 |
| 10th Sept. 2007 | By Cheque | - | 3,500·00 | 16,900·00 |
| 17th Sept. 2007 | To Cheque | 2,500·00 | - | 14,400·00 |
| 11th Oct. 2007 | By Cash | - | 800·00 | 15,200·00 |
| 6th Jan. 2008 | To Self | 2,000·00 | - | 13,200·00 |
| 9th March 2008 | By Cheque | - | 950·00 | 14,150·00 |
If the bank pays interest at the rate of 5% per annum, find the interest paid on 1st April, 2008. Give your answer correct to the nearest rupee.
John deposited Rs 400 every month in a bank’s recurring deposit account for `2(1)/(2)` years. If he gets Rs 1085 as interest at the time of maturity, then the rate of interest per annum is
Mr. Dhruv deposits Rs 600 per month in a recurring deposit account for 5 years at the rate of 10% per annum (simple interest). Find the amount he will receive at the time of maturity.
Salman deposits ₹ 1000 every month in a recurring deposit account for 2 years. If he receives ₹ 26000 on maturity, find:
- the total interest Salman earns.
- the rate of interest.
