Question

X, Y & Z are partners sharing profits & losses in the ratio of $3:3:2$. Each partner withdraws as follows:
X had withdrawn Rs. $15,000$ on $15-6-2015$. Y had withdrawn Rs. $8,500$ on $1-5-2015$ & $10,000$ on $\mathrm{15.10.2015}$. Z had withdrawn Rs. $2,500$ at the end of each month. Rate of interest on drawing is $9\%$. Accounting year ends on $31$st December each year. Calculate the interest on drawings.

• A. $731.25$, $697.5$ & $1,237.5$
• B. $675$, $510$ & $1,327.5$
• C. $657$, $679.5$ & $1,237.5$
• D. $567$, $796.5$ & $1,732.5$

Answer 1

The correct option is A $731.25$, $697.5$ & $1,237.5$

Calculation of interest on drawings:
$X=15,000\times 9\%\times \frac{6.5}{12}=731.25$
$Y=8,500\times 9\%\times \frac{8}{12}=510$
$=10,000\times 9\%\times \frac{2.5}{12}=187.5$
_________
$697.5$
__________
$Z=2,500\times 12\times 9\%\times -\frac{5.5}{12}=1,237.5$