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If equal monthly drawings of Rs 2000 are made at the beginning of each month and interest rate is ten percent what is interest on drawings?

Answer and explanation

Correct answer: Rs 1300

For monthly drawings at beginning average period is six and half months. Interest on Rs 24000 at ten percent is Rs 1300.

Related tags

Monthly DrawingsBeginningInterest AdjustmentAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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