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If equal monthly drawings of Rs 1000 are made at the end of each month and interest rate is twelve percent what is interest on drawings?

Answer and explanation

Correct answer: Rs 660

For equal monthly drawings at month end average period is five and half months. Interest on Rs 12000 at twelve percent is Rs 660.

Related tags

Monthly DrawingsEndInterest AdjustmentAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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