Anupama opens a Savings Bank Accouont in P.N.B.on 1st Sept. 2005 with rs.1000/-.She deposits rs.1000/- on the 1st or 2nd day of every month till and including March 1, 2006.  In between she withdraws Rs.2000/- on Nov 17, 2005 & and also on Feb 13th 2006. Write the entries of the pass book and calculate the interest due at the end of September 2006 if the interest is calculated at the rate of 5% per annum.

Asked by sreenivasanmaralapadu | 10th Jul, 2015, 07:47: PM

Expert Answer:

L e t space u s space w r i t e space t h e space p a s s space b o o k space e n t r i e s space a s space f o l l o w s colon
 
C a l c u l a t i o n space o f space i n t e r e s t space o f space a s space f o l l o w s colon M i n i m u m space b a l a n c e space b e t w e e n space 10 t h space a n d space 30 t h space o f space t h e space m o n t h space w i l l space b e space t a k e n space f o r space i n t e r e s t space c a l c u l a t i o n. table row cell M o n t h end cell cell M o n t h l y space p r o d u c t space left parenthesis i n space R s. right parenthesis end cell row cell S e p t end cell 1000 row cell O c t end cell 2000 row cell N o v end cell 1000 row cell D e c end cell 2000 row cell J a n end cell 3000 row cell F e b end cell 2000 row cell M a r end cell 3000 row cell A p r end cell 3000 row cell M a y end cell 3000 row cell J u n end cell 3000 end table space space J u l y space space space space space space space space space space space space space space space space space space space 3000 space A u g space space space space space space space space space space space space space space space space space space space space 3000 space S e p t space space space space space space space space space space space bottom enclose space space space space space space space space 3000 end enclose T o t a l space space space space space space space space space space space space space space space space space 32000 p r o d u c t  I n t e r e s t equals fraction numerator 32000 cross times 5 over denominator 12 cross times 100 end fraction equals R s.133.33 T o t a l space a m o u n t space R e p a i d equals R s 3000 plus R s.133 equals R s.3133

Answered by Vimala Ramamurthy | 12th Jul, 2015, 08:54: AM

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