What is the amount of Interest on drawings for Ram at 10% p.a. for the year ended 31st March, if his drawings during the year were Rs 24,000.

Rs 1100

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Rs 1200

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Rs 1300

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None of the above

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Solution

The correct option is B
Rs 1200

Interest = Rs 24,000 * $\frac{6}{12}$ * 10% = Rs 1,200

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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 his drawings during the year were Rs 24,000.

The correct option is B Rs 1200 Interest = Rs 24,000 * 612 * 10% = Rs 1,200

The correct option is B
Rs 1200

Interest = Rs 24,000 * $\frac{6}{12}$ * 10% = Rs 1,200