During financial year 2021-22, Sahil withdrew ₹30,000 quaterly in the begining of every quater. If interest to be charge is 8% p.a. Calculate the amount of interest on drawings :

₹6,000

The correct answer is Option (4) - ₹6,000.

Sahil withdrew ₹30,000 quarterly in the beginning of every quarter.
Interest = 8% p.a.
Average period = (months left after ist drawings + months left after last drawings)/2
                       = (12+3)/2
                       = 15/2
                       = 7.5 months

Total drawings = 30000 x 4
                      = ₹120000

Interest = Total drawings x rate of interest/100 x average period/12
            = 120000 x 8/100 x 7.5/12
            = ₹6000