Ram and Shyam are partners sharing profits/losses equally. Ram withdrew ₹ 1,000 p.m. regularly on the first day of every month during the year for personal expenses. If interest on drawings is charged @ 15% p.a. Calculate interest on the drawings of Ram?

₹975

Total drawings = 1000*12 =12000
Average period = (12+1) months/ 2 = 6.5 months
Interest on drawings = 12000*15/100*6.5/12 = ₹975