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ICSE Class 10 Answered

pl show me the steps to solve below problem
 
deepika oponed a sb account. her passbook below
 
date particulars withdrawals deposits bal
jan 1 b/f - - 6360
jan12 by cash - 750 7110
feb15 to self 5000 - 2110
jun 6 to cheque 354 - 1756
jul 18 to cheque - 543 2299
 
she closed the a/c on 29 jul and revd rs.2354.20 as bal.Calculate the rate of interest.
Asked by susan.thomassj | 26 Feb, 2016, 11:49: PM
answered-by-expert Expert Answer
The space interest space is space earned space on space the space minimum space balance space between space 10 th space day space and space last space day space of space the space month. As space per space entries space of space the space passbook Minimum space balance space for space Jan space equals space Rs. space 6360 Minimum space balance space for space Feb space equals space Rs. space 2110 Minimum space balance space for space March space equals space Rs. space 2110 Minimum space balance space for space April space equals space Rs. space 2110 Minimum space balance space for space May space equals space Rs. space 2110 Minimum space balance space for space June space equals space Rs. space 1756 Minimum space balance space for space July space equals space Rs space. space 0 space space space space space space space space space space space space space space space space space space left square bracket Since space Account space is space closed right square bracket Total space balance space equals Rs. space 16556 Total space qualifing space amount space for space interest space equals space Rs. space 16556 Principle space for space 1 space month open parentheses 1 over 12 space of space the space year close parentheses space equals space Rs. space 16556 Interest space earned space equals space Amount space received space after space closing space the space account space minus space Amount space balance space in space account space in space last space month space space space space space space space space space space space space space space space space space space space space space space space space equals space Rs. space space 2354.20 space minus Rs. space 2299 space space space space space space space space space space space space space space space space space space space space space space space space equals space Rs. space 55.20 Interest space equals space fraction numerator Balace space cross times space rate space of space interest space cross times space No. space of space year over denominator 100 end fraction 55.20 space equals space fraction numerator 16556 space cross times space rate space of space interest space cross times space begin display style 1 over 12 end style over denominator 100 end fraction fraction numerator 55.20 cross times space 100 cross times 12 over denominator 16556 end fraction space equals space rate space of space interest Rate space of space Interest space equals space 4.00 percent sign
Answered by Vijaykumar Wani | 29 Feb, 2016, 12:32: PM
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