Question types

Banking question types

24 questions across 4 question groups — pick any mix to generate a Mathematics paper with step-by-step answer keys.

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Sample Questions

Banking questions

One sample from each question group in this chapter. Select any group above to see the full set with answer keys.

Given the following details, calculate the simple interest at the rate of 6% per annum up to June, 30:
Date Debit (in ₹) Credit (in ₹) Balance (in ₹)
January 1 - 24,000·00 24,000·00
January 20 5,000·00 - 19,000·00
January 29 - 10,000·00 29,000·00
March 15 - 8,000·00 37,000·00
April 3 - 7,653·00 44,653·00
May 6 3,040·00 - 41,613·00
May 8 - 5,087·00 46,700·00
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Kiran deposited 200 per month for 36 months in a bank’s recurring deposit account. If the bank pays interest at the rate of 11% per annum, find the amount she gets on maturity.
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Mohan saves Rs. 25 per month from his pocket allowance and puts this saving every month in a bank recurring deposit scheme for a period of 72 months at 5.25%. What amount does he get on maturity?
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Naseem has a 5 years Recurring Deposit account in Punjab National Bank and deposit? Rs. 240 per month. If she receives Rs. 17,694 at the time of maturity find the rate of interest.
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Q 8[3 marks sum]3 Marks
A page from the Savings Bank Account of Mr. Prateek is given below :
Date Particulars Withdrawals
(in ₹)
Deposits
(in ₹)
Balance
(in ₹)
January $1^{st}, 2006$ B/F - - $1,270$
January $7^{th}, 2006$ By Cheque - $2,310$ $3,580$
March $9^{th}, 2006$ To Self $2,000$ - $1,580$
March $26^{th}, 2006$ By Cash - $6,200$ $7,780$
June $10^{th}, 2006$ To Cheque $4,500$ - $3,280$
July $15^{th}, 2006$ By Clearing - $2,630$ $5,910$
October $18^{th}, 2006$ To Cheque $530$ - $5,380$
October $27^{th}, 2006$ To Self $2,690$ - $2,690$
November $3^{rd}, 2006$ By Cash - $1,500$ $4,190$
December $6^{th}, 2006$ To Cheque $950$   $3,240$
December $23^{rd}, 2006$ By Transfer - $2,920$ $6,160$

If he receives ₹198 as interest on $1^{st}$ January $2007$, find the rate of interest paid by the bank.
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Q 9[3 marks sum]3 Marks
A page from the passbook of Mrs. Rama Bhalla is given below:
Calculate the interest due to Mrs. Bhalla for the period from January $2004$ to December $2004,$ at the rate of $5\%$ per annum.
Date
Year 2004
Particulars Amount
(₹) Withdrawals
Amount
(₹)Deposits
Balance (₹)
January 1 B/F - - 2,000.00
January 9 By cash - 200.00 2,200.00
February 10 To cheque 500.00 - 1,700.00
February 24 By cheque - 300.00 2,000.00
July 29 To cheque 200.00 - 1,800.00
November 7 By cash - 300.00 2,100.00
December 8 By cash - 200.00 2,300.00
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Q 10[3 marks sum]3 Marks
Suresh has joined a factory which pays wages by cheque only. He opens a S.B. account on Feb. 1, and his passbook has the following entries Upto 1st April of the year.
Date Particulars Withdrawals(₹) Deposits(₹) Balance(₹)
Feb. 1 By cash - 50·00 50·00
Feb. 2 By salary - 1,000·00 1,050·00
Feb. 4 To withdrawn slip 200·00 - 850·00
Feb. 15 By overtime allowance - 300·00 1,150·00
Feb. 24 To Aslam 100·00 - 1,050·00
March 1 By salary - 1,000·00 2,050·00
March 7 To cheque no. 212 500·00 - 1,550·00
March 21 To cheque no. 213 700·00 - 850·00
March 27 To self 400·00 - 450·00
Apr. 1 By salary - 1,000·00 1,450·00
Apr. 11 By interest - - -

He closes the account on 11th April. Complete the entries for 11th April at the rate of 5%
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Q 11[3 marks sum]3 Marks
Mr. Chaudhary opened a Saving’s Bank Account at State Bank of India on 1st April 2007.
Date Particulars Withdrawals
(in ₹)
Deposits
(in ₹)
Balance
(in ₹)
1st April 2007 By Cash - 8,550·00 8,550·00
12th April 2007 To Self 1,200·00 - 7,350·00
24th April 2007 By cash - 4,550·00 11,900·00
8th July 2007 By Cheque - 1,550·00 13,400·00
10th Sept. 2007 By Cheque - 3,500·00 16,900·00
17th Sept. 2007 To Cheque 2,500·00 - 14,400·00
11th Oct. 2007 By Cash - 800·00 15,200·00
6th Jan. 2008 To Self 2,000·00 - 13,200·00
9th March 2008 By Cheque - 950·00 14,150·00

If the bank pays interest at the rate of 5% per annum, find the interest paid on 1st April, 2008. Give your answer correct to the nearest rupee.
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Q 12[3 marks sum]3 Marks
Akash, an employee of a bank, has a saving bank account in his bank that pays him interest at the rate of 5% p.a., which is compounded every June and December. His passbook entries are as follow :
DateParticularsWithdrawals(₹)Deposits(₹)Balance(₹)
Feb. 3, 1981By cash-500·00500·00
Feb, 11To cheque no. 371200·00-300·00
Feb. 11By cheque-700·001,000·00
March 1By salary-2,350·003,350·00
March 4To withdrawals slip1,500·00-1,850·00
March 31To Urnil150·00-1,700·00
April 1By salary-2.350·004,050·00
April 2To Sri Ram1,800·00-2,250·00
May 1By salary-2,350·004,600·00
May 3To accountant2,000·00-2,600·00
Calculate the interest due at the end of June and find the balance on July 1, if he deposits a cash of? 100 on July 1, which is also entered immediately.
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Q 13[4 marks sum]4 Marks
A page of Passbook of Mrs. C. Malik Savings Bank Account in year 2002 is given below:
Date Year 2002 Particulars Amount Withdrawn
(in ₹)
Amount Deposited
(in ₹)
Balance
(in ₹)
Jan. 1 By Balance - - 2,100·00
Jan. 7 By Cash - 1,000·00 3,100·00
Feb. 1 By Cash - 500·00 3,600·00
Feb. 15 To Cheque 2,000·00 - 1,600·00
March 15 By Cash - 2,000·00 3,600·00
March 20 To Cheque 1,000·00 - 2,600·00
June 12 By Cash - 3,000·00 5,600·00
June 28 To Cheque 1,000·00 - 4,600·00
Oct. 15 To Cheque 3,000·00 - 4,600·00
Nov. 5 By Cash - 1,500·00 3,100·00
Dec. 10 By Cash - 500·00 3,600·00
Dec. 20 To Cheque 1,000·00 - 2,600·00
If the rate of interest decreases from 5% to 4% with effect from June 1st, 2002, compute the interest at the end of the year.
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Q 14[4 marks sum]4 Marks
Anita opens an S.B. account in State Bank of India on August 1, 1983 with Rs. 100. She deposits Rs. 100 on the first or second day every month till and including February 1, 1984. In between she withdrawal Rs. 200 on October 17, 1983 and also on January 13, 1984. Write the entries of the passbook.
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Q 15[4 marks sum]4 Marks
Mr. Ashok has an account in the Central Bank of India. The following entries are from his passbook:
Date Particulars Withdrawals
(₹)
Deposits
(₹)
Balance
(₹)
01-01-05 B/F - - 1,200·00
07-01-05 By cash   500·00 1,700·00
17-01-05 To cheque 400·00 - 1,300·00
10-02-05 By cash - 800·00 2,100·00
25-09-05 By cheque 500·00 - 1,600·00
20-09-05 By cash - 700·00 2,300·00
21-11-05 To cheque 600·00 - 1,700·00
05-12-05 By cash - 300·00 2,000·00

If Mr. Ashok gets Rs. 83.75 as interest at the end of the year where the interest is compounded annually, calculate the rate of interest paid by the bank in his Savings Bank Account on 31st December 2005.
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Q 16[4 marks sum]4 Marks
Mr. S.K. Mishra had a Savings Bank Account in Punjab National Bank. His Passbook had the following entries :
DateParticularsWithdrawals
(in ₹)
Deposits
(in ₹)
Balance
(in ₹)
1998, Jan. 8By Cash-500·00500·00
March 19To Cheque No. 626100·00-400·00
May 23By Cheque-1500·001,900·00
July 29To Withdrawals Slip200·00-1,700·00
Sept 2By Cash-1,300·003,000·00

If the interest is paid at the rate of 5% per annum at the end of September every year, calculate the amount he will get if he closes the account on October 30, of the same year.
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