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Standard XII

Accountancy

Partner's Capital Accounts

A withdrew Rs...

Question

A withdrew Rs 4,000 in the end of every month for 6 months. What shall be the interest on drawings at the rate of 5% p.a?

Rs 600

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Rs 420

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Rs 250

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Rs 350

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Solution

The correct option is C
Rs 250

Average Period = $\frac{5 + 1}{2}$

Interest = Rs 24,000 * 5% * $\frac{2.5}{12}$ = Rs 250.

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A withdrew Rs 4,000 in the end of every month for 6 months. What shall be the interest on drawings at the rate of 5% p.a?

The correct option is C Rs 250 Average Period = 5+12 Interest = Rs 24,000 * 5% * 2.512 = Rs 250.

The correct option is C
Rs 250

Average Period = $\frac{5 + 1}{2}$

Interest = Rs 24,000 * 5% * $\frac{2.5}{12}$ = Rs 250.