Sample Account to show Interest Calculation
Closing balance for the year 2009-10 = Rs. 54524/-

 

Month of Credit Month of Deposit Subscription Refund Extra Crs.   With drawals Type Cumulative Balance
Apr-10 Apr-10 1000           55524
May-10 May-10 1000           56524
Jun-10 Jun-10 1000           57524
Jul-10 Jul-10 1000   452 DA     58976
Aug-10 Aug-10 1000           59976
Sep-10 Sep-10 2000           61976
Oct-10 Oct-10 2000       25000 TA 38976
Nov-10 Nov-10 2000 500 658 DA     42134
Dec-10 Dec-10 2000 500         44634
Jan-11 Jan-11 2000 500         47134
Feb-11 Feb-11 2000 500         49634
Mar-11 Mar-11 2000 500         52134
  Total : 19000 2500 1110   25000   625146

 

Opening Balance 54524  
Deposits 22610  
Interest 4532  
Total 81666  
Withdrawal 25000  
Closing Balance 56666