Question

Mrs. Swami had a savings bank account with the state bank of India, from 13^th Feb 09 to 6^th August 09. The following table shows the entries in her passbook for the above said periods. Calculate the interest earned by Mrs. Swami on her S.B. Account up to 31^st July 09 at the rate of 5% per annum.

Date	Particulars	Amount Withdrawn (Dr) Rs P	Amount Deposits (Cr) Rs. P	Balance Rs. P
Feb 13	By Cash		500.00	500.00
March 3	By cheque		735.00	1,235.00
March 14	By cheque		1,040.00	2,275.00
May 10	To cheque	240.00		2.035.00
May 22	To cash	430.00		1,605.00
June 19	By Cash		780.00	2,385.00
July 26	To cash	980.00		1,405.00

Answer 1

Minimum balance for Feb. = Rs. 0

Minimum balance for Mar.= Rs. 1,235

Minimum balance for Apr. = Rs. 2,275

Minimum balance for May = Rs. 1,605

Minimum balance for June = Rs. 1,605

Minimum balance for July = Rs. 1,405

Total principal = Rs. 8,125

Rate = 5% p.a. and time = 1/12 year.