Suppose Gunjan and Himani are partners in a firm sharing profits and losses equally. During 2024-25, Gunjan withdrew Rs. 30,000 quarterly in the beginning of each quarter. If interest is to be charged on drawings @ 8% p.a., the interest on drawings will be:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Rs. 6,000
When the same amount is drawn at the beginning of each quarter, the four drawings stay out for 12, 9, 6 and 3 months, so the average period is 7.5 months.
Total drawings = Rs. 30,000 × 4 = Rs. 1,20,000
Average period = (12 + 9 + 6 + 3)/4 = 7.5 months
Interest = Rs. 1,20,000 × 8/100 × 7.5/12
Interest = Rs. 6,000
Drawings at the end of each quarter would give 4.5 months (Rs. 3,600), and in the middle of each quarter 6 months (Rs. 4,800), so the timing word decides the answer.
Note: This question is from NCERT (2026-27). NTA sets numerical questions from NCERT too, so do not ignore NCERT while practising numericals.
NCERT (2026-27 edition):
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