Practicing Success
A partner draws ₹7000 per month in the beginning of the year from his partnership firm. Calculate the interest on drawings if rate of interest is charged @15% p.a.? |
₹6845 ₹6835 ₹6815 ₹6825 |
₹6825 |
Average period for calculating interest on drawings if drawings are made at the beginning of each month of equal amount is 6.5 months [(12+1) months/2]. |