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The entries of a savings bank account are given below: DateParticularsWithdrawals (in Rs.)Deposits (in Rs.)Balance (in Rs.)01.01.03B/F−−1400001.02.03By Cash−115002550012.02.03By Cheque5000−2050005.04.03By Cash−37502425015.04.03By Cheque4250−2000009.05.03By Cash−15002150004.06.03By cash−150023000 Find the interest for six months (that is from January to June) at 8% per annum on the minimum balance on or after the tenth of every month.

Answer»

The entries of a savings bank account are given below:

DateParticularsWithdrawals (in Rs.)Deposits (in Rs.)Balance (in Rs.)01.01.03B/F1400001.02.03By Cash115002550012.02.03By Cheque50002050005.04.03By Cash37502425015.04.03By Cheque42502000009.05.03By Cash15002150004.06.03By cash150023000

Find the interest for six months (that is from January to June) at 8% per annum on the minimum balance on or after the tenth of every month.




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