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Question

What is the amount of interest on drawings for Romin at 12% p.a. for the year ended 31st March 2021, if he withdrew ₹5,000 at the end of each quarter.

[0.88 marks]

A
₹300
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B
₹375
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C
₹1,200
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D
₹450
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Solution

The correct option is B ₹375
Interest = ₹5,000×4×5100×4.512
= ₹375

*9+02=4.5

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