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Class 12 Accountancy Partnership Accounts - Basic Concepts Partnership DeedExpert

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If the deed charges twelve percent interest on drawings and A withdrew Rs 20000 in the middle of the year, what will be the interest?

Answer and explanation

Correct answer: Rs 1200

A mid year drawing carries interest for six months. Twelve percent on Rs 20000 for half year is Rs 1200.

Related tags

Interest On Drawings Numerical Mid Year Partnership Deed Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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