Question

Shashi and Trisha were partners with fixed capitals of ₹ 5,00,000 and ₹ 3,00,000 on 1st April 2024. They are allowed interest on capitals @ 6% p.a. and are charged interest on drawings @ 9% p.a. During the year, Shashi withdrew ₹ 6,000 per month at the beginning of every month, whereas Trisha withdrew ₹ 18,000 per quarter at the beginning of every quarter. The profits for the year before the above-mentioned adjustments were ₹ 1,20,440.

Interest on Trisha’s drawings will amount to ______.

Options

• ₹ 2,430

• ₹ 3,240

• ₹ 4,050

• ₹ 3,510

Answer 1

Interest on Trisha’s drawings will amount to ₹ 4,050.

Explanation:

Interest on Trisha’s drawings = `72,000 xx 9/100 xx 7.5/12`

= ₹ 4,050