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 6000 in the middle 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 B
Rs 1200

Interest = Rs 24000 * $\frac{6}{12}$ * 10% = Rs 1200

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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.

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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 6000 in the middle of each quarter.

The correct option is B Rs 1200 Interest = Rs 24000 * 612 * 10% = Rs 1200

The correct option is B
Rs 1200

Interest = Rs 24000 * $\frac{6}{12}$ * 10% = Rs 1200