Question

(a) Manu opened a savings bank account in the state bank of India on 3^rd sept, 12 with Rs. 2,700. He withdrew Rs. 1,200 from the bank on 8^th sept, 12 and deposited Rs. 500 on 17^th 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.

(b) Geeta opened a savings bank account in a bank on 7^th Nov., 08 and deposited Rs. 750. She withdrew Rs. 200 on 30^th Nov., 08. If no other withdrawal or deposit was made by her during this month; find the amount on which she would receive interest for the month of Nov., 08.

Answer 1

a) 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

b) Balance on 7^th Nov. = Rs. 750

Balance on 30^th Nov. = Rs750 – Rs. 200 = Rs. 550

Then minimum balance for the month of Nov. = Rs. 550 Ans.