Question

X and Y are partners. X draws a fixed amount at the beginning of every month. Interest on drawings is charged @ 8% p.a. At the end of the year, interest on X’s drawings amounts to ₹ 2,600. Drawings of X were ______.

पर्याय

• ₹ 8,000 p.m.

• ₹ 7,000 p.m.

• ₹ 6,000 p.m.

• ₹ 5,000 p.m.

Answer 1

X and Y are partners. X draws a fixed amount at the beginning of every month. Interest on drawings is charged @ 8% p.a. At the end of the year, interest on X’s drawings amounts to ₹ 2,600. Drawings of X were ₹ 5,000 p.m.

Explanation:

Suppose total drawings are x.

Interest on Drawings = `x xx 8/100 xx 6.5/12`

2,600 = `(52x)/(1,200)`

x = `(2,600 xx 1,200)/52`

x = `(31,20,000)/52`

x = 60,000

Monthly Drawings = `(60,000)/12`

= 5,000