Question

What is the amount of Interest on drawings for Ram at 10% p.a. for the Year ended 31st March 2018, if he withdrew Rs 2,000 p.m. in the beginning of every month.

• A. Rs 1,100
• B. Rs 1,200
• C. Rs 1,300
• D. Rs 1,400

Answer 1

The correct option is C

Rs 1,300

Interest = Rs 24,000 * $\frac{6.5}{12}$ * 10% = Rs 1,300