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A withdrew (₹2500) at the beginning of every month and (₹1500) at the end of every month. Interest on drawings is (12%) per annum. What is the total interest?

Answer and explanation

Correct answer: (₹2250)

Beginning monthly drawings use (6.5) months and end monthly drawings use (5.5) months. Interest is (30000\times12%\times\frac{6.5}{12}+18000\times12%\times\frac{5.5}{12}=₹2250).

Related tags

PartnershipAdjustmentsMixed Monthly DrawingsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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