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A and B are partners sharing profits equally. A drew regularly ₹ 4,000 at the end 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 = 4,000Total NUMBER of drawings = 6Total amount will beRate of interest = 5% per annumTime 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. 250. |
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