Ahmed has a recurring deposit account in a bank

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Reference no: EM131173415

Q1. A page from the passbook of Mrs. Rama Bhalla is given below :

Dates Year 2004	Particulars	Withdrawls (in Rs.)	Deposits ( in rs.)	Balance in rs.
Jan 1	B/F	...	...	2000.00
Jan 9	By cash	...	200.00	2200.00
Feb 10	To cheque	500.00	...	1700.00
Feb 24	By cheque	...	300.00	2000.00
July 9	To cheque	200.00	...	1800.00
Nov 7	By cash	...	300.00	2100.00
Dec 8	By cash	...	200.00	2300.00

Calculate the interest due to Mrs. Bhalla for the period January to December 2004, at the rate of 5% per annum.

Q2. Kritika opens a savings bank account with a bank on 18^th July , 2009 with Rs. 5000. Her transactions during july to setember 2009 were as under :

Withdrew rs. 856.00 on july 23

Deposited rs. 462.00 on july 26

Deposited rs. 575.00 on august 5

Withdrew rs 173.00 on august 10 by cheque

Deposited rs 796.00 on September 5

Write the entries in the passbook and calculate the interest earned for the period ending in September 30, 2009 at 4.5% per annum.

Q3. Ahmed has a recurring deposit account in a bank. He deposits rs. 2500 per month for 2 years. If he gets rs. 66250 at the time of maturity, Find

(i) the interest paid by the bank

(ii) the rate of interest

Q4. A man has a recurring deposit account of rs. 500 per month at 8% per annum simle interest. If he gets rs. 24010 at the time of maturity,find the toltal time for which account was held.

Q5. The catalogue price of a colour T.V is Rs. 24000. The shopkeeper gives a discount of 8% on the listed price. He gives a further off season discount of 5% on the balance. But sales tax is charged at 10% on the remaining amount. Find :

(i) the sales tax amount the customer has to pay.

(ii) the final price he has to pay for the colour T.V.

Q6. A manufacturer sells a washing Machine to a wholesaler for Rs. 15000. The Wholesaler sells it to a trader at a profit of Rs. 1200 and the trader in turn sells it to a consumer at a profit of Rs. 1800. If the rate of VAT is 8%, Find :

(i) the amount of VAT received by the state government on the sale of this machine from the manufacturer and the wholesaler.

(ii) the amount the customer has to pay for the machine.

Q1. Sohan deposits Rs. 80 per month in a cumulative deposit account for six years. Find the amount payable to him on maturity, if the rate of Interest is 6% per Annum.

(a) 6700.11 (b) 6811.20 (c) 6500.20 (d) 6810.00

Q2. Amit opens a savings bank account with a bank of baroda with an initial deposit of rs.1800. If he opens the account on 11^th October and closes it on 12 december of the same year, what interst is accured to him , the rate of interest being 5% or annum?

(a) 7.00 (b)6.50 (c) 7.50 (8) 8.00

Q3. Mrs. Goswami paid rs 1000 every month in a recurring deposit account for 3 years at 8 % per annum. Find the matured value.

(a) 40440 (b) 40400 (c) 40444 (d) 40442

Q4. Seema bought a radio for Rs 14300 including tax of 10%. Find the price of radio before the VAT was added?

(a) 12300 (b) 14000 (c) 13300 (d) 13000

Q5. List price of a toy is Rs. 970. If sumit paid Rs. 97 as VAT for it, Find the rate of VAT.

(a) 10% (b) 9% (c) 5% (d) 11%

Q6. Sunil wants to buy a coat with list price of Rs.990. The rate of sales Tax is 10%. He tells the shopkeeper to reduce the list price to such an extent that he needed to pay not more than Rs.990 including Sales Tax. Find the reduction needed in cost price of the coat.

(a) Rs.90 (b)Rs.190 (c) Rs.100 (d) Rs. 99

Reference no: EM131173415

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