Question

Manu opened a savings bank account in the state bank of India on 3rd sept, 12 with Rs. 2,700. He withdrew Rs. 1,200 from the bank on 8th sept, 12 and deposited Rs. 500 on 17th sept, 12. If he did not make any further deposits or withdrawals during this month; find the amount on which he would receive interest for sept, 12.

Answer 1

Balance on `3^"rd"` Sept. = Rs. 2,700
Balance on `8^"th"` Sept. = Rs. 2,700 – Rs. 1,200 = Rs. 1,500
Balance on `17^"th"` Sept. = Rs. 1,500 + Rs. 500 = Rs. 2,000
Then minimum balance for the month of sept = Rs. 1,500 Ans