Question

Given below are the entries in a saving Bank A/C pass book:

Date	Particulars	Withdrawals	Deposits	Balance
Feb 8 Feb 18 April 12 June 15 July 8	B/F To self By Cash To Self By Cash	- Rs. 4,000 - Rs. 5,000 -	- - Rs. 2,230 - Rs. 6,000	Rs. 8,500 4500 6730 1730 7730

Calculate the interest for 6 months from February to July at 6% per annum.

Answer 1

Principal for the month February = 4500
Principal for the month March = 4500
Principal for the month April = 4500
Principal for the month May = 6730
Principal for the month June = 1730
Principal for the month July = 7730
Total principal for 1 month = Rs. 29,690
∴ Interest = = `(29690 × 6)/ (100 ×12)`=𝑅𝑠.148.45 Ans