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Equal monthly drawings of Rs 3000 are made in the middle of each month and rate is twelve percent. What is interest on drawings?

Answer and explanation

Correct answer: Rs 2160

For monthly drawings in the middle average period is six months. Interest on Rs 36000 at twelve percent for six months is Rs 2160.

Related tags

Monthly DrawingsMiddleInterestAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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