Ram and Mohan, are partners. They Draw for private use Rs. 6,000 and Rs. 4000 respectively. Interest is chargeable @ 6% per annum on drawings. What is the interest?

Ram Rs. 180 and Mohan Rs. 120

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Ram Rs. 360 and Mohan Rs. 240

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Ram Rs. 30 and Mohan Rs. 20

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None

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Solution

The correct option is A Ram Rs. 180 and Mohan Rs. 120
Interest on drawings = Amount x rate of interest x average period
RAM:-
= 6,000 x 6/100 x 6/12
= RS-180
MOHAN:-
= 4,000 x 6/100 x 6/12
= RS-120.

Note:-
Because nothing is mentioned hence, average period is taken as 6/12.

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Ram and Mohan, are partners. They Draw for private use Rs. 6,000 and Rs. 4000 respectively. Interest is chargeable @ 6% per annum on drawings. What is the interest?

The correct option is A Ram Rs. 180 and Mohan Rs. 120Interest on drawings = Amount x rate of interest x average period RAM:-= 6,000 x 6/100 x 6/12= RS-180 MOHAN:-= 4,000 x 6/100 x 6/12= RS-120. Note:-Because nothing is mentioned hence, average period is taken as 6/12.

The correct option is A Ram Rs. 180 and Mohan Rs. 120
Interest on drawings = Amount x rate of interest x average period
RAM:-
= 6,000 x 6/100 x 6/12
= RS-180
MOHAN:-
= 4,000 x 6/100 x 6/12
= RS-120.

Note:-
Because nothing is mentioned hence, average period is taken as 6/12.