m asure and record the length of PA.
(C) Mr. A. Ramchander has an account with Central Bank of India. The foll
from his passbook:
Date
Particulars Withdrawal Deposits Balan
05.01.2009
B/F
8000
20.01.2009
To self
2500
04.02.2009 By cash
9000
20.02.2009 By cash
3000
04.03.2009
To self
1000
15.04.2009
12000
By cash
Complete the above page of his passbook and calculate the interest accum
January to April at the rate of 3.5% per annum. If the interest is added
balance on that date.
Answers
Given: Pass book having transactions
To find : Interest
Solution:
Date Particulars Withdrawal Deposits Balance
05.01.2009 B/F 8000
20.01.2009 To self 2500 5500
04.02.2009 By cash 9000 14500
20.02.2009 By cash 3000 17500
04.03.2009 To self 1000 16500
15.04.2009 By cash 12000 28500
8000 for 15 Days
5500 for 15 Days
14500 for 16 Days
17500 for 12 Days
16500 for 42 Days
T = Days / 365 = year
R = 3.5 % per annum
P * R * T /100
interest 5th Jan to 15th April
Interest = ( 8000 * 15 + 5500 * 15 + 14500*16 + 17500 * 12 + 16500 * 42) * 3.5 / 36500
= ( 80 * 15 + 55 * 15 + 145*16 + 175 * 12 + 165 * 42 + 285 * 15) * 3.5 / 365
= ( 1200 + 825 + 2320 + 2100 + 6930)/365
= 13375/365
= 36.64
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