Mukesh and Chittudeep are two partners. Mukesh and Chittudeep withdrew Rs. 30,000 each at the beginning of each quarter. Calculate interest on Chittudeep's drawings @10% p.a.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Rs. 7,500
Interest on drawings is charged for the time each amount stays with the partner up to the end of the year. Money drawn at the beginning of each quarter is out for 12, 9, 6 and 3 months.
Rs. 30,000 × 10% × 12/12 = Rs. 3,000
Rs. 30,000 × 10% × 9/12 = Rs. 2,250
Rs. 30,000 × 10% × 6/12 = Rs. 1,500
Rs. 30,000 × 10% × 3/12 = Rs. 750
Interest on Chittudeep’s drawings = Rs. 7,500
Shortcut: for equal drawings at the beginning of each quarter, charge interest on the year’s total for an average of 7.5 months.
Total drawings = Rs. 30,000 × 4 = Rs. 1,20,000
Interest = Rs. 1,20,000 × 10% × 7.5/12 = Rs. 7,500
Mukesh’s drawings are not needed; the question asks only about Chittudeep.
Note: NTA picked this question from an NCERT (2026-27) illustration and changed the figures. Do not ignore NCERT while practising numericals.
NCERT (2026-27 edition):
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