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interest on drawings at simple rate of interest of 10 percent per annum and If an amount of Rs. 4,000 per month was withdrawn by sumit at the end of each month. |
2100 2020 2200 2050 |
2200 |
The correct answer is Option (3) → 2200 |