Question

X, Y & Z are partners. X withdraws fixed some at the beginning of each month. Rate of interest on drawing is $10\%$ p.a. Interest on drawing credited to Profit & Loss Appropriation A/c is Rs. $650$. Calculate the monthly drawing of partner X.

• A. Rs. $1,550$ per month
• B. Rs. $1,200$ per month
• C. Rs. $1,000$ per month
• D. Rs. $1,150$ per month

Answer 1

The correct option is C Rs. $1,000$ per month

Let the monthly drawing be 'x'.
$x\times 12\times 10\%\times \frac{6.5}{12}=650$
$x=1,000$.