Calculate the interest on drawings of partner Babita who draws ₹4500 on the first day of every month. The rate of interest is 15%.

₹4387

The correct answer is option 1- ₹4387.

Total drawings = 4500 x 12
                     = 54000
Average period is 6.5 months
Interest on drawings =  Total drawings X Rate of interest/100 X Average period/12
Interest on drawings = 54000 X 15/100 X 6.5/12
                              = ₹4387.5