Question

A, B and C are partners, their partnership deed provides for interest on drawings at 8% per annum. B withdrew a fixed amount in the middle of every month, and his interest on drawings amounted to ₹ 4,800 at the end of the year. What was the amount of his monthly drawings?

पर्याय

• ₹ 10,000

• ₹ 5,000

• ₹ 1,20,000

• ₹ 48,000

Answer 1

₹ 10,000

Explanation:

Interest on Drawings = `"Total Drawings" xx "Rate"/100 xx 6/12`

4,800 = `"Total Drawings" xx 8/100 xx 6/12`

Total Drawings = `(4,800 xx 100 xx 12)/(8 xx 6)`

= `(57,60,000)/48`

= 1,20,000

The amount of monthly drawings is determined by dividing the total drawings by the number of months in a year.

Monthly Drawings = `"Total Drawings"/12`

= `(1,20,000)/12`

= 10,000