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Equal quarterly drawings of Rs 6000 are made at the beginning of each quarter and rate is eight percent. What is interest on drawings?

Answer and explanation

Correct answer: Rs 1200

For quarterly drawings at the beginning average period is seven and half months. Interest on Rs 24000 at eight percent is Rs 1200.

Related tags

Quarterly DrawingsBeginningInterestAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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