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Equal monthly drawings of Rs 2500 are made at the end of each month and interest rate is twelve percent. What is interest on drawings?

Answer and explanation

Correct answer: Rs 1650

For monthly drawings at the end average period is five and half months. Interest on Rs 30000 at twelve percent for five and half months is Rs 1650.

Related tags

Monthly DrawingsEndInterest On DrawingsCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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