Abhishek and Manan are partners in a firm. Abhishek withdrew regularly Rs. 8,000 every month for six months ending 31st March, 2026. If interest on drawings is charged @ 16% p.a. What amount will be charged as interest on drawings from Abhishek?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Rs. 1,920
Note: The given answer is as per the official NTA Answer Key. However, the question does not say when in each month the money was drawn. The answer given by NTA takes the middle of each month; drawings at the beginning of each month would give an average period of 3.5 months (Rs. 2,240), and at the end of each month 2.5 months (Rs. 1,600). Neither figure is among the options, so Rs. 1,920 is the only option that fits, as explained below.
When the same amount is drawn every month and the time within the month is not stated, interest is charged for the average period, taking the middle of each month.
Total drawings = Rs. 8,000 × 6 = Rs. 48,000
First drawing (mid-October) stays 5.5 months to 31st March
Last drawing (mid-March) stays 0.5 month
Average period = (5.5 + 0.5) ÷ 2 = 3 months
Interest = Rs. 48,000 × 16/100 × 3/12 = Rs. 1,920
NCERT (2026-27 edition): |