Amarjeet and Charu are partners in a firm. They share profits in the ratio of 3:2. As per their partnership agreement, interest on drawings is to be charged @ 10% p.a. Their drawings during the year 2024-25 were Rs. 24,000 and Rs. 16,000, respectively. What will be the interest on drawings of Amarjeet and Charu based on the assumption that the amounts were withdrawn evenly, throughout the year?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Rs. 1200, Rs. 800
When the drawings are made evenly throughout the year, the money is out of the firm for half the year on average, so interest is charged for 6 months.
Amarjeet = Rs. 24,000 × 10% × 6/12 = Rs. 1,200
Charu = Rs. 16,000 × 10% × 6/12 = Rs. 800
Charging interest for the full year gives Rs. 2,400 and Rs. 1,600, which would be right only if the whole amount had been withdrawn on the first day.
Note: This question is from NCERT (2026-27). NTA sets numerical questions from NCERT too, so do not ignore NCERT while practising numericals.
NCERT (2026-27 edition):
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