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The deed charges twelve percent interest on drawings. B withdrew thirty thousand rupees on first July and year ends on thirty first March. What is the interest?

Answer and explanation

Correct answer: Two thousand seven hundred rupees

From first July to thirty first March is nine months. Twelve percent on thirty thousand for nine by twelve gives two thousand seven hundred rupees.

Related tags

Interest On DrawingsTime BasisNumericalPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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