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 6,000 at the end 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 C
Rs 900

Interest = Rs 24,000 * $\frac{4.5}{12}$ * 10% = Rs 900

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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 6,000 at the end of each quarter.

The correct option is C Rs 900 Interest = Rs 24,000 * 4.512 * 10% = Rs 900

The correct option is C
Rs 900

Interest = Rs 24,000 * $\frac{4.5}{12}$ * 10% = Rs 900