Mathematics · Commercial Maths
A bank's back office receives the following daily clearing data from the NPCI: 1. Outward Clearing (cheques deposited by customers): 1,200 cheques totaling 5,00,00,000 units. 2. Inward Clearing (cheques drawn on the bank): 800 cheques totaling 3,50,00,000 units. 3. During scrutiny, the bank rejects 5 inward cheques totaling 15,00,000 units. 4. Similarly, 10 outward cheques totaling 25,00,000 units are returned unpaid by other banks. Calculate the Net Settlement amount with the clearing house and the final net amount to be credited to the bank's customers' accounts.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Net Receive 1,60,00,000; Customer Credit 4,50,00,000
- 2Net Receive 1,40,00,000; Customer Credit 5,00,00,000
- 3Net Receive 1,50,00,000; Customer Credit 4,75,00,000✓
- 4Net Pay 1,50,00,000; Customer Credit 4,75,00,000
Correct answer
Net Receive 1,50,00,000; Customer Credit 4,75,00,000
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