Question

Ashwin opened a saving account in a bank on `4-1-2006` with a deposit of Rs. 2000. On the 9th of every old month of the year, he deposited Rs. 500 to his account. On the 9th of every even month of that year, he withdrew Rs. 500 from his account. He closed his account on `1-2-2007` find the sum on which he would have received interest on closing the account. (in Rs.)
A. 22500
B. 24000
C. 25500
D. 27000

Answer 1

Correct Answer - D
His minimum balances in the year 2006 (in Rs.) are 2500,2000, 2500 and 2000. The sum on which Ahwin would have received interest (in Rs.)
`=6(2500+2000)=27,000.`