Practicing Success
Raman, a partner withdrew ₹10000 at the beginning of every month for the first 8 months, then ₹15000 at the end of every month for the last 4 months. Calculate interest on drawings to be changed at 6% p.a. for the year ending March 31, 2023. |
₹3700 ₹537.50 ₹8400 ₹3850 |
₹3850 |
The correct answer is option 4- ₹3850. In starting of 8 months, partner withdrew at the beginning and in last 4 months, he withdrew at the end. Ist part- 2nd part- Total interest = 3400 + 450 |