When equal amounts are withdrawn in the beginning of each quarter throughout the year, then the Interest on drawings will be charged with the help of which formula?

Interest on Drawings = Total of drawings × Rate/100 × 7.5/12

The correct answer is option 2- Interest on Drawings = Total of drawings × Rate/100 × 7.5/12.

When equal amounts are withdrawn in the beginning of each quarter throughout the year:
Average period = (12+3)/2 = 7.5 months
Interest on Drawings = Total of drawings × Rate/100 × 7.5/12