Question

A and B are partners. B draws a fixed amount at the end of every month. Interest on drawings is charged @ 15% p.a. At the end of the year, interest on B’s drawings amounts to ₹ 8,250. Drawings of B were ______.

Options

• ₹ 12,000 p.m.

• ₹ 10,000 p.m.

• ₹ 9,000 p.m.

• ₹ 8,000 p.m.

Answer 1

A and B are partners. B draws a fixed amount at the end of every month. Interest on drawings is charged @ 15% p.a. At the end of the year, interest on B’s drawings amounts to ₹ 8,250. Drawings of B were ₹ 10,000 p.m.

Explanation:

Suppose total drawings are x.

Interest on drawings = `x xx 15/100 xx 5.5/12`

8,250 = `(82.5x)/(1,200)`

x = `(8,250 xx 1,200)/82.5`

x = `(99,00,000)/82.5`

x = 1,20,000

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

= 10,000