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Mr. Navin opened a Savings Bank Account at Union Bank on 1st April 2007. The entries of one year as shown in his pass book are given below. DateParticularsWithdrawalDepositBalance1st April 2007By cash − 8550.008550.0012th April 2007To Self1200.00−7350.0024th April 2007By cash−4550.0011900.008th July 2007By cheque−1500.001340.0010th Sept. 2007To cheque−3500.0016900.0017th Sept 2007By cheque2500.00−15200.0011th Oct 2007By cash−800.00.15200.006th Jan 2008To Self2000.00−13200.009th March 2008By Cheque−950.0014150.00 The bank pays interest of 5% per annum. What will be the interest paid on 1st April, 2008? The answer should be correct to the nearest rupee.

Answer»

Mr. Navin opened a Savings Bank Account at Union Bank on 1st April 2007. The entries of one year as shown in his pass book are given below.

DateParticularsWithdrawalDepositBalance1st April 2007By cash − 8550.008550.0012th April 2007To Self1200.00−7350.0024th April 2007By cash−4550.0011900.008th July 2007By cheque−1500.001340.0010th Sept. 2007To cheque−3500.0016900.0017th Sept 2007By cheque2500.00−15200.0011th Oct 2007By cash−800.00.15200.006th Jan 2008To Self2000.00−13200.009th March 2008By Cheque−950.0014150.00

The bank pays interest of 5% per annum. What will be the interest paid on 1st April, 2008? The answer should be correct to the nearest rupee.




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