Ranjith opened a saivng bank account in a bank on 11-2-2006 with a dep – InterviewSolution

InterviewSolution

1.	Ranjith opened a saivng bank account in a bank on 11-2-2006 with a deposit of Rs 5000 .He deposited Rs 1000 On 20-2-2006 and thereafter he neither deposited nor withdrew any amount .Find the interest received for the month of februrary 2006 at the rate of 4 % per annum
Answer» Rs 50/3 Rs 20 Rs 15227 He did not receive any INTEREST SOLUTION :(i) find the minimum balance held between the 10 day and the last day of the month (ii) calculate the minimum balance LET it be P (III) `Si =(PxxTxxR)/(100)`

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