[5 marks sum]

Question 15 Marks

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

Answer

Months	Minimum balance between 10th day and the last day
Jan	39040
Feb	31440
Mar	35790

Principal at the end of march =Rs 106270
$
\text { Interest }=\frac{106270 \times 4.5 \times 1}{100 \times 12}=398.51
$
So the interest is Rs 399
After substituting th is interest the pass book is as follows:

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		399.00	36189.00
08.04.2008	By Cheque		13670.00	49859.00
12.04.2008	To Cash	6000.00		43859.00
01.05.200	By Cheque		17350.00	61209.00
16.06.2008	By Cash		9000.00	70209.00
27.06.2008	To Cash	4370.00		65839.00
04.07.2008	By Cheque		21320.00	87159.00
11.07.2008	To Cheque	9460.00		77699.00

Net Money that Mr. Punjwani will get is Rs 77,699/-.

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Question 25 Marks

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

Answer

Months	Minimum balance between 10th day and the last day
Jan	14200
Feb	11750
Mar	27350

Total principal at the end of March $=\operatorname{Rs} 53,300$
Interest at the end of March
$
=\frac{53300 \times 4.5 \times 1}{100 \times 12}=199.87
$
Thus the interest is Rs 200 Now entering the interest in pass book we get the remaining balances as below:

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		200.00	37400.00
06.06.2006	To Cheque	4100.00		33300.00
22.08.2006	To Cash	1500.00		31800.00
05.09.2006	By Cheque		17300.00	49100.00
09.09.2006	To Cash	6300.00		42800.00
30.09.2006	By Interest		810.00	43610.00
04.12.2006	To Cash	3000.00		40610.00
11.12.2006	By Cheque		11760.00	52370.00

* Interest calculated below.For calculating interest at the end of September.

Months	Minimum balance between 10th day and the last day
Apr	37400
May	37400
June	33300
July	33300
Aug	31800
Sep	42800

Total principal at the end of September= Rs 216000
$
\text { Interest }=\frac{216000 \times 4.5 \times 1}{100 \times 12}=810
$
Now entering the interest in the pass book above, we get the balance Rs 52,370 at the end o year.

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Question 35 Marks

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

Answer

Months	Minimum balance between 10th day and the last day
Jan	6500
Feb	12500
Mar	12500
Apr	12500
May	12500
June	14225
July	14225
Aug	14225
Sep	14600
Oct	14600
Nov	20600
Dec	18100

Principal at the end of Dec. $=$ Rs $1,67,075$
$
\text { Interest }=\frac{167075 \times 5 \times 1}{100 \times 12}=696.14
$
Thus, interest is Rs 696.

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Question 45 Marks

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

Answer

Balance =Previous Balance +Deposit - Withdrawal. Using this formula, we get following values in Balance column

Date	Particulars	Withdrawals	Deposits	Balance
01.04.2007	By B/F			16500.00
15.04.2007	By Cash		2500.00	19000.00
09.06.2007	To Cheque	6500.00		12500.00
04.07.2007	By Cash		9000.00	21500.00
12.07.2007	To Cash	3500.00		18000.00
05.09.2007	To Cash	4000.00		14000.00
10.11.2007	By Cheque		12000.00	26000.00

Interest earned by account holder 1n the month of November

Months	Minimum balance between 10th day and the last day
Apr	16500
May	19000
June	12500
July	18000
Aug	18000
Sep	14000
Oct	14000
Nov	26000

Total principal at the end of Nov $=\operatorname{Rs} 1,38,000$
$
\text { Interest }=\frac{138000 \times 5 \times 1}{100 \times 12}=575
$
Hence the interest earned is Rs 575 .

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Question 55 Marks

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

Answer

Date	Particulars	Withdrawals	Deposits	Balance
08.02.2008	By Cash		12000.00	12000.00
15.03.2008	To cash	3000.00		9000.00
08.04.2008	To Cheque	2500.00		6500.00
18.04.2008	By Cash		16000.00	22500.00
10.06.2008	By Cash		800.00	30500.00

Months	Minimum balance between 10th day and the last day
Feb.	12000
Mar.	9000
Apr.	6500
May	22500
June	30500

Total Principal at the end of June $=$ R.s 80,500
$
\text { Interest }=\frac{80500 \times 6 \times 1}{100 \times 12}=402.50 \text { (Rs } 4.3 \text { approx.) }
$
Hence, Mr. R.ajesh will get R.s 403/- as interest amount towards the end of June 2008.

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Question 65 Marks

Ms. Chitra opened a saving bank account with SBI on 05.04.2007 with a cheque deposit of Rs 11,000/.Subsequently, she took out Rs 3,200/- on 12.05.2007; deposited a cheque of Rs. 8,800/- on 03.06.2007 and paid Rs 2,000/- by cheque on 18.06.2007.
If the rate of simple interest was 5% pa compounded at the end of March and September, find her balance on 1.04.2008.

Answer

If the rate of simple interest was $5 \%$ pa compounded at the end of March and September, find her balance on 1.04.2008 According to the entries in passbook, the minimum balance tor ditterent months are as follows:

Months	Minimum balance between 10th day and the last day	Minimum balance in nearest multiple of 10
2007,April	11000	11000
May	7800	7800
June	14600	14600
July	14600	14600
August	14600	14600
September	14600	14600
October	14600 + 322 = 14922	14920
November	14922	14920
December	14922	14920
2008,January	14922	14920
February	14922	14920
March	14922	14920

Total principal at the end of September 2007
=Rs $11000+7800+14600 \times 4$
=Rs 77200
Therefore interest at the end of sep. 2007
$
=\frac{77200 \times 5 \times 1}{100 \times 12}=321.66
$
Thus interest earned is Rs 322
Again, principal at the end of March, $2008=14920 \times 6=89520$
Therefore interest at the end of Mar. 2008
$
=\frac{89520 \times 5 \times 1}{100 \times 12}=373
$
Hence, Account balance as on 01.04.2008 is
$=$ Rs $14920+$ Rs 373
=Rs 15293

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Question 75 Marks

Mr. Burman open a saving back account with Bank of India on $3^{\text {rd }}$ April $2007$ with a cash deposit of Rs $5,000/-.$ Subsequently, he deposited Rs $16,500 /$ - by cheque on $11^{\text {th }}$ April $2007$, withdraw Rs $4,000 /$ - on $10^{\text {th }}$ May, paid Rs 3,500 for insurance by cheque on $7^{\text {th }}$ July $2007$, deposited Rs. $6,000/-$ in cash on $9^{\text {th }}$ August $2007$ and withdrew Rs $1,500 /-$ on $12^{\text {th }}$ Oct $2007$.
If he closed the account on $14^{\text {th }}$ December and if the rate of simple interest is $4 \% pa$, then find the amount he received on closing the account.

Answer

If he closed the acoount on $14th$ December and if the rate of simple interest is $4 \%$ pa, then find the amount he received on closing the account. Pis. note that there are June, September and November month where no transactions were made but the bank will give interest based on the amount which is reflected in the last month.

Months	Minimum balance between 10th day and the last day
Apr	$5000$
May	$17500$
June	$17500$
July	$14000$
Aug	$20000$
Sep	$20000$
Oct	$18500$
Nov	$18500$

Total principal for at the end of November $=1,31,000$
$\text { Interest }=\frac{131000 \times 4 \times 1}{100 \times 12}=436.67$
Thus, interest= Rs 437
Hence, while closing the account, Mr. Burman will get Principal + interest which amounts to:
Rs 18,500/- + Rs 437/- = Rs 18, 937/-

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Question 85 Marks

Mr. Burman open a saving back account with Bank of India on $3^{\text {rd }}$ April 2007 with a cash deposit of Rs $5,000 /-$. Subsequently, he deposited Rs $16,500 /$ - by cheque on $11^{\text {th }}$ April 2007, withdraw Rs $4,000 /-$ on $10^{\text {th }}$ May, paid Rs $3,500$ for insurance by cheque on $7^{\text {th }}$ July $2007$, deposited Rs. $6,000/-$ in cash on $9^{\text {th }}$ August 2007 and withdrew Rs $1,500 /-$ on $12^{\text {th }}$ Oct 2007.
Make the entries in his passbook.

Answer

Make the entries in his passbook There are $5$ columns in a passbook:
a) Date,
b) Particulars,
c) Withdrawals,
d) Deposits,
e) Balance.
Date is the date of the transaction, Particular is the details of the transaction primarily the name, Withdrawal is the amount that has been taken out from acoount, Deposit is the amount that has been given to the acoount, balance is net amount remaining in the account after subtracting I Adding the amount as applicable. Keeping this in mind, the passbook entry will look as below:

Date	Particular	Withdrawals	Deposits	Balance
$03.04.2007$	By cash		$5,000.00$	$5,000.00$
$11.04.2007$	By Cheque		$16,500.00$	$21,500.00$
$10.05.2007$	To Self	$4,000.00$		$17,500.00$
$07.07.2007$	By Cheque	$3,500.00$		$14,000.00$
$09.08.2007$	By cash		$6,000.00$	$20,000.00$
$12.10.2007$	To Self	$1,500.00$		$18,500.00$

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Mathematics [5 marks sum]

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