Based on following answer the question: Chirag and Jyoti are two partners in a firm sharing profits and losses equally. Chirag withdrew money for his personal use. As per partnership deed rate of interest on drawings is 9% per annum. |
If an amount of ₹4000 per month was withdrawn by him at the end of each month, then the Average period for interest charged on Drawing will be: |
6.5 months 6 months 5.5 months 4.5 months |
5.5 months |
The correct answer is Option (3) → 5.5 months. Ist drawing = 30 April. So, months left after ist drawing is 11. |