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 he withdrew Rs.4000 per month at the beginning of every month then Average period for interest charged on Drawing will be: |
6.5 months 6 months 5.5 months 4.5 months |
6.5 months |
The correct answer is Option (1) → 6.5 months. When the amount is withdrawn at the beginning of each month. |