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



A

Rs 1,100

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B

Rs 1,200

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C

Rs 1,300

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D

Rs 1,400

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Solution

The correct option is C

Rs 1,300


Interest = Rs 24,000 * 6.512 * 10% = Rs 1,300


Accountancy

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