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

Answer and explanation

Correct answer: Rs 2160

For monthly drawings in the middle average period is six months. Interest on Rs 48000 at nine percent for six months is Rs 2160.

Related tags

Monthly DrawingsMiddleInterest On DrawingsCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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