Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Partnership

Question:

Sumit, a partner in Tours and Travels withdrew money during the year ending March 31, 2020 from his capital account, for his personal use. Calculate interest on drawings at simple rate of interest of 10 percent per annum and If an amount of Rs. 4,000 per month was withdrawn by sumit at the end of each month.

Options:

2100

2020

2200

2050

Correct Answer:

2200

Explanation:

The correct answer is Option (3) → 2200