Answer:
Ram therefore has more amount in his account at the end of the month, and the balances in their bank accounts at the end of the month are arranged in ascending order, i.e. from the smallest to the largest, as follows:
Rahul – Debits AED 200; Rohit – Credits AED 200; and Ram – Credits AED 500.
Explanation:
In banking and finance, a credit transaction on a bank account indicates that an additional amount of money has been added to the bank account and the balance has increased. This gives a positive balance in the account
On the other hand, a debit transaction on a bank account indicates that an amount of money has been deducted or withdrawn from the bank account and the balance has therefore reduced. This gives a negative balance in the account.
Based on the above, we have:
a. Ram – Credits AED 500 on 12th May 2020
Since there is no any other credit or debit transaction during the month, this implies that Ram still has Credits AED 500 in his account at the end of the month.
The Credits AED 500 indicates that Ram has a positive balance of AED 500 in his account at the end of the month.
b. Rahul – Debits AED 700 on 12th May 2020 and Credits AED 500 on 15th May 2020.
The balance in the account of Rahul gives Debits of AED 200 as follows:
Debits AED 700 - Credits AED 500 = Debits AED 200
The Debits AED 200 indicates that Rahul has a negative balance of AED 200 in his account at the end of the month.
c. Rohit – Credits AED 700 on 12th May 2002 and Debits AED 500 on 15th May 2020.
The balance in the account of Rohit gives Credits of AED 200 as follows:
Credits AED 700 - Dedits AED 500 = Credits AED 200
The Credits AED 200 indicates that Rohit has a positive balance of AED 200 in his account at the end of the month.
Conclusion
Arrangement of numbers or amounts of money in ascending order implies that they are arranged from the smallest to the largest number or amount.
Since Credits implies positive amount and Debits implies negative amount, Ram therefore has more amount in his account at the end of the month, and the balances in their bank accounts at the end of the month are arranged in ascending order, i.e. from the smallest to the largest, as follows:
Rahul – Debits AED 200; Rohit – Credits AED 200; and Ram – Credits AED 500.