Question

Mr Sudhir deposited ? 34750 in a bank on 3rd January, 2012. If the bank paysinterest at 9.5% per annum, calculate the amount Mr Sudhir will get back on 28th
May, 2017​

Answer 1

Answer:

Step-by-step explanation:

alculating interest on a savings bank account:

Interest for the month is calculated on the minimum balance between the 10th day and the last day of the month.

Add all these balances. However, if the same balance continues for n months then multiply this balance by n, rather than writing it n times and then adding.

Find simple interest on this sum for one month.

If the interest is less than Rs. 1, neglect it.

No interest is paid for the month in which the account is closed.