Calculate interest on drawings of a partner at the rate of 15% per annum if he withdrew ₹10,000 per month at the end of each month.

₹8,250

The correct answer is option 1- ₹8,250.

Total amount of drawings = 10,000*12
                                     = ₹1,20,000

Average period of drawings = (11+0) months/2
                                        = 5.5 months

So, interest on drawings = ₹1,20,000*15/100*5.5/12
                                    = ₹8,250