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Interest on Drawings-Withdrawn in a Quarterly Intervals

If a fixed am...

Question

If a fixed amount is withdrawn on the last day of every quarter, the interest on the total amount of drawings shall be calculated for:

A

4.5 months

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B

6.5 months

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C

6 months

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D

7.5 months

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Solution

The correct option is A
4.5 months

If a fixed amount is withdrawn on the last day of every quarter, the interest on the total amount of drawings shall be calculated for 4.5 months.

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