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Equal quarterly drawings of Rs 4000 are made at the end of each quarter. At twelve percent per annum what is interest on drawings?

Answer and explanation

Correct answer: Rs 720

For quarterly drawings at the end average period is four and half months. Interest on Rs 16000 at twelve percent for four and half months is Rs 720.

Related tags

Quarterly DrawingsEndInterest CalculationCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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