Based on following answer the question: Chirag and Jyoti are two partners in a firm sharing profits and losses equally. Chirag withdrew money for his personal use. As per partnership deed rate of interest on drawings is 9% per annum. |
If Chirag withdraw ₹5000 per month in the middle of every month then the Average period for interest charged on Drawing will be: |
6.5 months 6 months 5.5 months 4.5 months |
6 months |
The correct answer is Option (2) → 6 months. When the amount is withdrawn at the middle of each month |