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

[0.88 marks]

₹300

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₹375

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₹1,200

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₹450

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Solution

The correct option is B ₹375
Interest = ₹ $5, 000 \times 4 \times \frac{5}{100} \times \frac{{4.5}^{}}{12}$
= ₹375

$\frac{9 + 0}{2} = 4.5$

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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]

The correct option is B ₹375Interest = ₹5,000×4×5100×4.5∗12 = ₹375 *9+02=4.5

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

[0.88 marks]

The correct option is B ₹375
Interest = ₹ $5, 000 \times 4 \times \frac{5}{100} \times \frac{{4.5}^{}}{12}$
= ₹375

$\frac{9 + 0}{2} = 4.5$