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The deed says drawings are equal and made at the beginning of each month. Total annual drawings are seventy two thousand rupees and interest rate is ten percent. What is the interest?

Answer and explanation

Correct answer: Three thousand nine hundred rupees

For equal drawings at month beginning average period is six and a half months. Ten percent on seventy two thousand for six point five by twelve gives three thousand nine hundred rupees.

Related tags

Interest On DrawingsBeginning MonthlyNumericalPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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