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A and B are partners sharing profits equally. A drew regularly ₹ 4,000 in the beginning of every month for six months ended 30th September, 2018. Calculate interest on drawings @ 5% p.a. for a period of six months. |
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Answer» t is calculated as given below:Explanation:AMOUNT A has drawn in the beginning for each month for the period of six MONTHS = 4,000 Total number of drawings = 6 Total amount will be Rate of interest = 5% PER annum TIME will be calculated depending on withdrawing at the beginning of every month (Time left after 1st drawing and time left after LAST drawing /2) Interest will be calculated as: Interest will be calculated from the formulaThus, the interest on drawings @ 5% p.a. for a period of six months will be Rs. 350. |
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