ABC Ltd. has a partnership deed as per which interest on drawing is to be charged @ 9% p.a and the total interest on drawings of Aman (partner) is calculated to be Rs. 1755. Find the monthly amount he withdrew, if drawings are done at the beginning of every month during the year.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Rs. 3000
When a fixed amount is drawn at the beginning of every month, interest is charged on the total drawings of the year for an average period of 6½ months.
Let the monthly drawing be Rs. x; total drawings = Rs. 12x
Interest = 12x × 9/100 × 6.5/12 = 0.585x
0.585x = Rs. 1,755
x = Rs. 1,755 ÷ 0.585 = Rs. 3,000
Note: This question is from NCERT (2026-27). NTA sets numerical questions from NCERT too, so do not ignore NCERT while practising numericals.
NCERT (2026-27 edition):
|
