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Equal drawings of Rs 4000 are made in the middle of every month and rate is nine percent. What is interest on drawings?

Answer and explanation

Correct answer: Rs 2160

Average period for monthly middle drawings is six months. Interest on Rs 48000 at nine percent for six months is Rs 2160.

Related tags

Monthly DrawingsMiddleInterestAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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