T ROWE PRICE SUMMIT FUNDS INC
NSAR-B, 1996-12-27
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<PAGE>      PAGE  1
000 B000000 10/31/96
000 C000000 0000912028
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 T. ROWE PRICE SUMMIT FUNDS, INC.
001 B000000 811-7093
001 C000000 4105472000
002 A000000 100 EAST PRATT STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 T. ROWE PRICE SUMMIT CASH RESERVES FUND
007 C030100 N
007 C010200  2
007 C020200 T. ROWE PRICE SUMMIT GNMA FUND
007 C030200 N
007 C010300  3
007 C020300 T. ROWE PRICE SUMMIT LIMITED-TERM BOND FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
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018  00AA00 Y
019 A00AA00 Y
019 B00AA00   76
019 C00AA00 TROWEPRICE
020 A000001 MERRILL LYNCH PIERCE FENNER & SMITH INC
020 B000001 13-5674085
020 C000001      2
020 A000002 NATIONSBANC CAPITAL MARKETS (INC)
020 B000002 56-1684171
020 C000002      1
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<PAGE>      PAGE  2
020 C000006      0
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022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001   2825368
022 D000001     49054
022 A000002 LEHMAN BROS. INC.
022 B000002 13-2518466
022 C000002   1410823
022 D000002     59892
022 A000003 MORGAN JP SECURITIES INC.
022 B000003 13-3224016
022 C000003   1118492
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022 A000004 DEUTSCHE MORGAN GRENFELL
022 B000004 13-2730828
022 C000004    774563
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022 A000005 CS FIRST BOSTON CORP
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022 C000005    566391
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022 A000006 MERRILL, LYNCH, PIERCE, FENNER & SMITH
022 B000006 13-5674085
022 C000006    547942
022 D000006     26859
022 A000007 BT SECURITIES CORP
022 B000007 13-4941247
022 C000007    547814
022 D000007     10125
022 A000008 CHASE SECURITIES INC
022 B000008 13-3112953
022 C000008    163717
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022 A000009 GENERAL MOTORS ACCEPTANCE CORP
022 B000009 38-0572512
022 C000009    134744
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022 A000010 CHEMICAL SECURITIES INC
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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SIGNATURE   JIM RIEPE                                    
TITLE       VICE PRESIDENT      
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000912028
<NAME> T ROWE PRICE SUMMIT CASH RESERVE FUND
       
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000912028
<NAME> T ROWE PRICE SUMMIT GNMA FUND
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000912028
<NAME> SUMMIT LIMITED-TERM BOND FUND
       
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