Money maths · lesson 28 of 30 · free

Reading a bank passbook — Money maths for kids

A passbook (or bank statement) is the record of a bank account. A credit is money coming in — a deposit or interest. A debit is money going out — a withdrawal or a payment. The balance is what is left after all the entries.

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The method

In and out — “start with the opening balance, add each credit, take away each debit”

  1. Credit = money in (deposit, interest, money received). Debit = money out (withdrawal, payment, fee).
  2. Balance = opening balance + credits − debits.
  3. A missing debit = opening balance + credits − closing balance.

Use it for: Opening a child’s savings account, reading a statement, and banking lessons in Class 6–8.

Worked example: Passbook — opening balance ₹2500, credit ₹800, debit ₹1200. What is the balance now (in ₹)? → 2100

  1. Add the credit: 2500 + 800 = 3300.
  2. Take away the debit: 3300 − 1200 = 2100.

Check: 2100 + 1200 − 800 = 2500, the opening balance ✓

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✏️ Practice

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🏁 Lesson 28 test

20 sums. Check each answer, then go to the next one. Get 16 or more right to pass.

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🖨️ Bank Passbook Worksheet

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