Advertisements
Advertisements
Question
Z is a partner in a firm. He withdrew regularly ₹ 2,000 every month for the six months ending 31st March, 2024. If interest on drawings is charged @ 8% p.a., the interest charged will be ______.
Options
₹ 480
₹ 280
₹ 200
₹ 240
MCQ
Fill in the Blanks
Advertisements
Solution
Z is a partner in a firm. He withdrew regularly ₹ 2,000 every month for the six months ending 31st March, 2024. If interest on drawings is charged @ 8% p.a., the interest charged will be ₹ 240.
Explanation:
Total drawings = 2,000 × 6
= ₹ 12,000
Average Period = `("Time left after first drawing" + "Time left after last drawing")/2`
= `(5.5 + 0.5)/2`
= `6/2`
= 3 months
Interest on drawings = `12,000 xx 8/100 xx 3/12`
= ₹ 240
shaalaa.com
Is there an error in this question or solution?
