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 2,000 p.m. in the end of every month.

None of the above

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Rs 1300

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Rs 1200

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Rs 1100

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Solution

The correct option is D
Rs 1100

Interest = Rs 24,000 * $\frac{5.5}{12}$ * 10% = Rs 1,100

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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 2,000 p.m. in the end of every month.

The correct option is D Rs 1100 Interest = Rs 24,000 * 5.512 * 10% = Rs 1,100

The correct option is D
Rs 1100

Interest = Rs 24,000 * $\frac{5.5}{12}$ * 10% = Rs 1,100