Banking Mathematics - Banking

What should be minimum monthly deposit in a recurring deposit for 3 years to get Rs 20,220 on maturity after 3 years at an interest rate of 8% pa.

Mr. Pradip deposited Rs 2,400 pm in bank for One year 6 months under the recurring deposit scheme. If the maturity value of his deposit is Rs 47,304 find the rate of interest per annum.

Given below is a page from the passbook of the savings bank account of Mr. Rajesh. Complete the entries in the passbook and calculate the interest paid to him by the bank at 6°/o pa in the end of June.

Date	Particulars	Withdrawals	Deposits	Balance
08.02.2008	By Cash		12000.00
15.03.2008	To cash	3000.00
08.04.2008	To Cheque	2500.00
18.04.2008	By Cash		16000.00
10.06.2008	By Cash		800.00

Given below is a page from the passbook of a saving bank account that Mr. Sharma has with SBI. If the bank gives interest at 6%pa, find
The interest she gets at the end of March.

Date	Particulars	Withdrawls	Deposite	Balance
05.01.08	By cash		15500.00	15500.00
10.01.08	To cheque	4800.00		10700.00
15.02.08	To cheque	5300.00		5400.00
08.03.08	By cash		19200.00	24600.00
17.03.08	To cheque		7400.00	32000.00

Mr. Punjwanis saving account passbook had the following entries, The bank pays interest at 4.5°/o on all SB accounts. Find the amount received by Mr. Punjwani when he closed the acoount on 2S'h July 08.

Date	Particulars	Withdrawls	Deposits	Balance
05.01.2008	By B/F			24650.00
09.01.2008	By cash		14390.00	39040.00
15.02.2008	To Cheque	7600.00		31440.00
21.02.2008	By Cheque		8350.00	39790.00
07.03.2008	To Cash	4000.00		35790.00
31.03.2008	By Interest
08.04.2008	By Cheque		13670.00
12.04.2008	To Cash	6000.00
01.05.200	By Cheque		17350.00
16.06.2008	By Cash		9000.00
27.06.2008	To Cash	4370.00
04.07.2008	By Cheque		21320.00
11.07.2008	To Cheque	9460.00		c

The following enb·ies are from the saving bank account passbook of Mr. Ratnesh. If the rate of interest paid by the bank is 4. 5°/op.a. calculated at the end of March and September, find the balance in his account at the end of the year.

Date	Particulars	Withdrawls	Deposits	Balance
03.01.2006	By B/F			17900.00
09.01.2006	To Cash	3700.00		14200.00
06.02.2006	To Cheque	2450.00		11750.00
21.02.2006	By Cash		15600.00	27350.00
17.03.2006	By Cash		9850.00	37200.00
31.03.2006	By Interest
06.06.2006	To Cheque	4100.00
22.08.2006	To Cash	1500.00
05.09.2006	By Cheque		17300.00
09.09.2006	To Cash	6300.00
30.09.2006	By Interest
04.12.2006	To Cash	3000.00
11.12.2006	By Cheque		11760.00

The following are the entries in the passbook of a saving account of Ananya during the year 2007. If interest is calculated at 5 % pa, find the interest earned by Ananya during the year

Date	Particulars	Withdrawals	Deposits	Balance
01.01.2007	By B/F			6500.00
05.02.2007	By Cheque		7500.00	14000.00
09.02.2007	To Cash	1500.00		12500.00
06.06.2007	By Cash		1725.00	14225.00
08.09.2007	By Cheque		375.00	14600.00
06.11.2007	By Cash		6000.00	20600.00
10.12.2007	To Cheque	2500.00		18100.00

Given below is a page from the passbook of a saving bank account of Dolly Majumdar. Complete the entries in the passbook and find the interest earned by the account holder in the month of November if the rate of simple interest is 5°/o pa.

Date	Particular	Withdrawals	Deposits	Balance
01.04.2007	By B/F			16500.00
15.04.2007	By Cash		2500.00
09.06.2007	To Cheque	6500.00
04.07.2007	By Cash		9000.00
12.07.2007	To Cash	3500.00
05.09.2007	To Cash	4000.00
10.11.2007	By Cheque		12000.00

Given below is a page from the passbook of the savings bank account of Mr. Rajesh. Complete the entries in the passbook and calculate the interest paid to him by the bank at 6°/o pa in the end of June.

Date	Particulars	Withdrawals	Deposits	Balance
08.02.2008	By Cash		12000.00
15.03.2008	To cash	3000.00
08.04.2008	To Cheque	2500.00
18.04.2008	By Cash		16000.00
10.06.2008	By Cash		800.00

Mr. Banerjee opens a recurring deposit account for Rs 3,000 per month at 9% simple interest pa. On maturity, he gets Rs. 1,70,460. Find the period for which he continued with the account.

Mr. Mohan has a cumulative deposit account for 3 years at 7% interest pa. She receives Rs 8,547 as a maturity amount after 3 years.
(a) Find the monthly deposit.
(b) Find the total interest receivable after maturity.

Mr. Menon deposit Rs 1,200 per month in a cumulative deposit account for a period of 5 years. After the end of the period, he will receive Rs 88,470. (a) Find the rate of the interest per annum. (b) Find the total interest that Mr. Menon will earn.