Select the amount of interest on drawing to be charged from Shashi, if she withdrew evenly ₹60,000 from partnership firm throughout the year ending March 31st, 2023 and the interest on drawings is to be charged @8% per annum.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹2,400
When drawings are made evenly throughout the year and dates are not given, interest is charged for an average period of six months.
Interest on drawings = ₹60,000 × 8/100 × 6/12
Interest on drawings = ₹2,400
NCERT (2026-27 edition):
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