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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 6000 in the middle of each quarter.



A

Rs 1500

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B

Rs 1200

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C

Rs 900

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D

None of the above

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Solution

The correct option is B

Rs 1200


Interest = Rs 24000 * 612 * 10% = Rs 1200


Accountancy

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