Mr. Punjwanis saving account passbook had the following entries, The bank pays interest at $4.5%$ on all SB accounts. Find the amount received by Mr. Punjwani when he closed the account on 25th July 08

Home » Mr. Punjwanis saving account passbook had the following entries, The bank pays interest at on all SB accounts. Find the amount received by Mr. Punjwani when he closed the account on 25th July 08

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Mr. Punjwanis saving account passbook had the following entries, The bank pays interest at $4.5%$ on all SB accounts. Find the amount received by Mr. Punjwani when he closed the account on 25th July 08

Total principal for at the end of March = ₹ $1,06,270$

So, Interest at the end of March

$=(1,06,270\times 4.5\times 1)/(100\times 12)$

$=398.51$

Hence, interest is ₹ $399$

Then, entering the interest in the passbook we get,

Therefore, Net money that Mr. Punjwani will get ₹ $77,699$

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Date	Particular	Withdrawals	Deposits	Balance
05.01.2008	By B/F			$24,650.00$
09.01.2008	By Cash		$14,390.00$	$39,040.00$
15.02.2008	To Cheque	$7,600.00$		$31,440.00$
21.02.2008	By Cheque		$8,350.00$	$39,790.00$
07.03.2008	To Cash	$4,000.00$		$35,790.00$
31.03.2008	By Interest
08.04.2008	By Cheque		$13,670.00$
12.04.2008	To Cash	$6,000.00$
01.05.2008	By Cheque		$17,350$
16.06.2008	By Cash		$9,000.00$
27.06.2008	To Cash	$4,370.00$
04.07.2008	By Cheque		$21,320.00$
11.07.2008	To Cheque	$9,460.00$

Months	Minimum balance between 10^th day and the last day
January	$39,040$
February	$31,440$
March	$35,790$

Date	Particular	Withdrawals	Deposits	Balance
05.01.2008	By B/F			$24,650.00$
09.01.2008	By Cash		$14,390.00$	$39,040.00$
15.02.2008	To Cheque	$7,600.00$		$31,440.00$
21.02.2008	By Cheque		$8,350.00$	$39,790.00$
07.03.2008	To Cash	$4,000.00$		$35,790.00$
31.03.2008	By Interest		$399.00$	$36,189.00$
08.04.2008	By Cheque		$13,670.00$	$49,859.00$
12.04.2008	To Cash	$6,000.00$		$43,859.00$
01.05.2008	By Cheque		$17,350.00$	$61,209.00$
16.06.2008	By Cash		$9,000.00$	$70,209.00$
27.06.2008	To Cash	$4,370.00$		$65,839.00$
04.07.2008	By Cheque		$21,320.00$	$87,159.00$
11.07.2008	To Cheque	$9,460.00$		$77,699.00$

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