Banking – Exercise 2.1.6 – Class IX

  1. Enter the following particulars into a saving bank pass book.

(a) Balance brought forward: 2250

(b) By cash: 3500 on 06-06-2012

(c) To self: 1250 on 11-06-2012

(d) By bank draft:4800 on 23- 06-2012

(e) By cheque no. 323263: 750 on 30-06-2012

Solution:

Date Particulars Cheque No. Debit credit Balance
01-06-2012 balance       2,250.00
06-06-2012 by cash     3,500.00 5,750.00
11-06-2012 to self   1,250.00   4,500.00
23-06-2012 by bank draft     4,800.00 9,300.00
30-06-2012 by cheque 323263   750.00 10,050.00

  1. The particulars of a SB account is given here. Calculate the monthly interest on daily product basis
Date Particulars Cheque No. Debit credit Balance
01-05-2010 balance B/F       2,842.00
04-05-2010 By cash     4,600.00 7,442.00
12-05-2010 to Geetha 843655 2,500.00   4,942.00
21-05-2010 By self   800.00   4,142.00
30-05-2010 By Cheque 560090   7,500.00 11,642.00

Solution:

The daily product for the month is calculated as follows:

 

Daily product for 3 days (from 1st to 3rd )                                                = 2,842×3    = 8,526

Daily product for the W and t 8 days (from 4th to 11th)           = 7,442×8    = 59,536

Daily for the next 9 days (from 12th to 20th)                              = 4,942×9    = 44,478

Daily for the 9 days (from 21st to 29th)                                       = 4,142×9    = 37,278

Daily for one day (to 30th)                                                           = 11642×1    = 11,642

Daily product for may 2010                                                        =1,61,460

Interest for the month at the rate of 4% PTR/100 = 161460×4/100×365 = 17.69 = 18.00


  1. Pranava frequently uses his debit card for online shopping. In a month, he had an in initial amount of 9,800 in a bank. He credited 11,000 to his account on 07.12.2011. He used his card for online shopping and an amount of 6,125 was debited from his account. He credited 3,400 on 19.12.2011 by cheque no 565677. Enter these particulars in to SB account and find interest at 4% per annum on daily product basis.

Solution:

Date Particular cheque No. Debit credit Balance
01-12-2011 Balance B/F       9800.00
07-12-2011 By cash     11,000.00 20,800.00
 

 

To   6,125.00   14,675.00
19-12-2011 By cheque 787865   3,400.00 18,075.00
24-12-2011 To cheque 123432 4,800.00   13,275.00
 

 

To cheque 565677 750.00   12,525.00

  1. The entries in an SB account pass book are given below. Calculate the interest at 4% per annum for the month on daily product basis.
Date Particular cheque No. Debit credit Balance
01-01-2009 Balance B/F       6,400.00
05-01-2009 By cash     2,200.00 8,600.00
10-01-2009 To Cheque 945800 1250.00   7,350.00
21-01-2009 By cash     7,800.00 15,150.00
27-01-2009 by cheque 663119   750.00 15,900.00
30-01-2009 by cheque 123422 2,100.00   13,800.00

Solution:

The daily product for the month is calculated as follows:

6,400 × 4 = 25,600.00

8,600 × 5 = 43,000.00

7,350 × 11 = 80.850.00

15,150 × 8 = 90,900.00

15,900 × 3 = 47,470.00

13,800 × 2 = 27,600.00

total            3,15,650.00

Interest for the month = PTR/100 = 315650×1×4/365×100 = Rs. 34.59 = 35.00


  1. Kruthi opens SB account in a bank on 4.6.2010 with an initial deposit of 1,500. She credits 4,00 to her account on 09-06-2010. She receives a banker cheque in her name for 10,200 on her name and she deposits it to her account on 20.06.2010. she issues a cheque (no. 2290898) for her brother for 4,500 on 21.06.2010. she deposits 2,500 on 24-06-2010 and withdraws 1,000 on 30-6-2010. Enter these into SB account pass book and find the interest she gets for the month on daily product basis.

Solution:

Date Particular cheque No. Debit credit Balance
04-06-2010 Open SB A/C       1,500.00
09-06-2010       4,000.00 5,500.00
20-06-2010 By Cheque     10,200.00 15,700.00
21-06-2010 To cheque 2290898 4,500.00   11,200.00
24-06-2010 by cash     2,500.00 13,700.00
30-06-2010 to self   1,000.00   12,700.00

The daily product for the month is calculated as follows:

1,500 × 5 = 7,500.00

5,500 × 11 = 60,500.00

15,700 × 1 = 15,700.00

11,200 × 3 = 33,600.00

13,700 × 6 = 82,200.00

12,700 × 1 = 12,700.00

Total             2,12,200.00

Interest for the month = PTR/100 = 212200×1×4/365×100 = Rs. 23.25 = 23


 

 

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