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B withdrew Rs 30000 at the beginning of April and the accounting year ends in March. What is interest on drawings at ten percent?

Answer and explanation

Correct answer: Rs 3000

Drawing at the beginning of April is taken for the full year. Ten percent of Rs 30000 is Rs 3000.

Related tags

Interest On DrawingsBeginningAnnualAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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