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Standard VII

Mathematics

Interest

N Z are two...

Question

N & Z are two partners. During the year N withdraws Rs. $37, 000$ on $1 - 5 - 2012$ & Z withdraws Rs. $45, 000$ on $15 - 8 - 2012$ . Accounts are closed on $31 - 12 - 2012$ . Rate of interest on drawings is $10 %$ p.a. Interest on drawing for two partner respectively will be.

2, 775

2, 063

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2, 063

2, 775

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2, 467

1, 688

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1, 688

2, 467

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Solution

The correct option is C $2, 467$ & $1, 688$
Calculation of interest in drawings:
$N = 37, 000 \times 10 % \times \frac{8}{12} = 2, 467$
$S = 45, 000 \times 10 % \times \frac{4.5}{12} = 1, 688$ .

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N & Z are two partners. During the year N withdraws Rs. 37,000 on 1−5−2012 & Z withdraws Rs. 45,000 on 15−8−2012. Accounts are closed on 31−12−2012. Rate of interest on drawings is 10% p.a. Interest on drawing for two partner respectively will be.

The correct option is C 2,467 & 1,688Calculation of interest in drawings:N=37,000×10%×812=2,467S=45,000×10%×4.512=1,688.

N & Z are two partners. During the year N withdraws Rs. $37, 000$ on $1 - 5 - 2012$ & Z withdraws Rs. $45, 000$ on $15 - 8 - 2012$ . Accounts are closed on $31 - 12 - 2012$ . Rate of interest on drawings is $10 %$ p.a. Interest on drawing for two partner respectively will be.

The correct option is C $2, 467$ & $1, 688$
Calculation of interest in drawings:
$N = 37, 000 \times 10 % \times \frac{8}{12} = 2, 467$
$S = 45, 000 \times 10 % \times \frac{4.5}{12} = 1, 688$ .