Practicing Success
Practicing Success
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| When equal amounts are withdrawn at the end of each quarter throughout the year, the interest on drawings are charged for how many months? |
5.5 6 7.5 4.5 |
| 4.5 |
| If the amount is withdrawn at the beginning of each quarter, the interest is calculated on the total money withdrawn during the year, for a period of seven and half months and if withdrawn at the end of each quarter it will be calculated for a period of 4½ months. Interest on Drawings = Total of drawings × Rate/100 × 4.5/12 |
