Credit and Debit
Last updated at October 9, 2025 by Teachoo
Transcript
Question 1 - Figure it out (Page 260) Suppose you start with ₹0 in your bank account, and then you have credits of ₹30, ₹40, and ₹50, and debits of ₹40, ₹50, and ₹60. What is your bank account balance now?Okay, let’s look at this Initial Balance = ₹ 0 After credits of ₹30, ₹40, and ₹50 Since it’s a credit, we will add them Balance = Initial Balance + Additional credits = ₹ 0 + ₹30 + ₹40 + ₹50 = 30 + 40 + 50 = ₹ 120 After debits of ₹40, ₹50, and ₹60 Since it’s a debit, we will subtract them Balance = Initial Balance – Additional Debits = ₹ 120 – ₹40 – ₹50 – ₹60 = 120 – (40 + 50 + 60) = 120 – 150 = – ₹ 30