Mathematics · Averages and Percentages
A premium Savings Account holder in a Metro branch is required to maintain a Monthly Average Balance (MAB) of ₹1,00,000. The account movements for January (31 days) are as follows: 1. From 1st to 10th: Balance was ₹20,000. 2. On 11th: A cash deposit of ₹50,000 was made. 3. On 21st: A cheque of ₹50,000 was cleared (debit). 4. On 26th: An inward RTGS of ₹2,00,000 was received. The bank's policy for non-maintenance is: If the shortfall is less than or equal to 50%, a penalty charge of ₹200 applies. If the shortfall is more than 50%, a penalty charge of ₹500 applies. Calculate the MAB for January and the applicable non-maintenance charge.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1MAB is ₹95,483 and the charge is ₹200.
- 2MAB is ₹1,15,483 and the charge is ₹0.
- 3MAB is ₹74,838 and the charge is ₹200.✓
- 4MAB is ₹45,000 and the charge is ₹500.
Correct answer
MAB is ₹74,838 and the charge is ₹200.
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