Calculate the interest on drawings of partner Babita who draws ₹4,500 on the first day of every month. The rate of interest is 15% p.a..

₹4,387

The correct answer is option 1- ₹4,387.

Total drawings = 4,500 x 12
                        = 54,000

Average period is 6.5 months

Interest on drawings =  Total drawings X Rate of interest/100 X Average period/12

Interest on drawings = 54,000 X 15/100 X 6.5/12
                                  = ₹4,387.5