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Equal quarterly drawings of Rs 5000 are made at the end of each quarter and rate is eight percent. What is interest on drawings?

Answer and explanation

Correct answer: Rs 600

For quarterly drawings at the end average period is four and half months. Interest on Rs 20000 at eight percent is Rs 600.

Related tags

Quarterly DrawingsEndInterestAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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