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Question
A page from the passbook of Asha is given below:
| Date | Particulars | Amount Withdrawn (Dr) Rs P | Amount Deposits (Cr) Rs. P | Balance Rs. P |
| Jan 5 March 7 April 2 April 10 Oct , 6 Dec, 8 |
Balance B/F To Cheque By Cheque By Cheque By Cheque By Cash |
1,200.00
950.00 |
2,300.00
1,700.00
|
3,750.00
|
Complete the passbook and then calculate the interest for the period January to December 5% per annum.
Solution
i. Balance on `7^"th"` March = Rs. 3,750 – Rs. 1200 = Rs. 2,550
Balance on `2^"nd"` April = Rs. 2,550 + Rs. 2,300 = Rs. 4,850
Balance on `10^"th"` April = Rs. 4,850 + Rs. 820 = Rs. 5,670
Balance on `6^"th"` Oct. = Rs. 5,670 – Rs. 950 = Rs. 4,720
Balance on `8^"th"` Dec.= Rs. 4,720 + Rs. 1,700 = Rs. 6,420
ii. Minimum balance for the month of Jan. = Rs. 3,750
Minimum balance for the month of Feb. = Rs. 3,750
Minimum balance for the month of Mar. = Rs. 2,550
Minimum balance for the month of Apr. = Rs. 5,670
Minimum balance for the month of May = Rs. 5,670
Minimum balance for the month of June= Rs. 5,670
Minimum balance for the month of July = Rs. 5,670
Minimum balance for the month of Aug.= Rs. 5,670
Minimum balance for the month of Sept.= Rs. 5,670
Minimum balance for the month of Oct. = Rs. 4,720
Minimum balance for the month of Nov. = Rs. 4,720
Minimum balance for the month of Dec. = Rs. 6,420
Total principal= Rs59,930
Rate = 5% p.a. and Time` =1/12 year ∴ Interest = (PxxRxxT)/100 = (59,930xx5xx1)/(100xx12) = Rs. 249.71`
