What is the amount of Interest on drawings for Ram at 10% p.a. for the year ended 31st March, if he withdrew Rs 6,000 at the beginning of each quarter.

Rs 1500

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Rs 1200

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Rs 900

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None of the above

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Solution

The correct option is A
Rs 1500

Interest = Rs 24,000 * $\frac{7.5}{12}$ * 10% = Rs 1,500

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Q. Calculate interest on drawings of Mr. Siddhant @

10 %

p.a. for the year ended 31st March, 2018 in each of the following alternative cases:
Case 1. If he withdrew

R s . 6, 000

in the beginning of each quarter.
Case 2. If he withdrew

R s . 6, 000

at the end of each quarter:
Case 3. If he withdrew

R s . 9, 000

in the middle of each quarter.

Q. is interest on drawings for R, if he withdrew Rs6,000 at the beginning of each quarter & interest chargead at 10% p.a. for the year ended 31st March.

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What is the amount of Interest on drawings for Ram at 10% p.a. for the year ended 31st March, if he withdrew Rs 6,000 at the beginning of each quarter.

The correct option is A Rs 1500 Interest = Rs 24,000 * 7.512 * 10% = Rs 1,500

The correct option is A
Rs 1500

Interest = Rs 24,000 * $\frac{7.5}{12}$ * 10% = Rs 1,500