Danilo had P16,240 in his check account at the beginning of the
month. He wrote checks for P3500, P9750, and P5175. He then made
a deposit of P6000. If at any time during the month the account is
overdrawn, a P2500 service charge is deducted. What was Danilo's
balance at the end of the month?
(with solution)
month. He wrote checks for P3500, P9750, and P5175. He then made
a deposit of P6000. If at any time during the month the account is
overdrawn, a P2500 service charge is deducted. What was Danilo's
balance at the end of the month?
(with solution)
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Answer:
P1,315
Step-by-step explanation:
Danilo has P16,240 in his account.
When he wrote the checks, the money decreases by the said amount.
P16,240 - P3,500 - P9,720 - P5,175 = -P2,185
His check account have been overdrawn by P2,185.
He made a deposit of P6,000, so add that to his current balance.
P6,000 + (-2,185) = P3,815
Since his account was overdrawn, there was a P2,500 service charge. Take it out from his balance.
P3,815 - P,2500 = P1,315
Therefore, his balance by the end of the month is P1,315