A, B and C are partners in a partnership firm sharing profits and loss in ratio of 2:2:1. Their fixed capitals are ₹1000000, ₹800000 and ₹700000 respectively. They withdrew some amount from the firm for their personal use. Partnership deed provide interest on drawings @10% p.a. but no interest on capital. Market rate of interest on capital in similar firm is 5% p.a. C also gives a loan of ₹100000 to the firm without any agreement of interest whereas market rate of interest on loan is 12% p.a.

What will be the interest on drawings if C withdraws ₹60000 at the end of each quarter?

₹9000

Total drawings = 60000*4= ₹240000
Average period = (9+0) /2 = 4.5 months
Interest on drawings = 240000*4.5/12*10/100= ₹9000