One partner A draws Rs 1000 every month at the end of the month. If the rate of interest is 5%p.a, what will be the interest on drawings?

₹327 ₹300 ₹275 ₹350

₹275

Interest on drawing = Total drawings * rate of interest * average period/12 Total drawings =1000*12 Interest on drawings = 12000*5%*5.5/12                                   = 12000 X 5/100 X 5.5/12                                    =275