A is a partner in the firm. He withdrew ₹10000 in each quarter during the year. Interest on her drawings at the rate of 9% will be: |
₹1,350 ₹3,600 ₹900 ₹1,800 |
₹3,600 |
The correct answer is option 2- ₹3,600. Drawings in each quarter = ₹10,000 As the interest rate is given without word per annum so interest will be calculated without considering time factor. Interest on drawings = Total drawings x Interest rate/100 |