Amarjeet and Charu are partners in a firm. They share profits in the ratio of 3:2. As per their partnership agreement, interest on drawings is to be charged @ 10% p.a. Their drawings during the year 2024-25 were Rs. 24,000 and Rs. 16,000, respectively. What will be the interest on drawings of Amarjeet and Charu based on the assumption that the amounts were withdrawn evenly, throughout the year?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) →
Rs 1200, Rs 800