1.

A partner has been withdrawing Rs 600 at the end of each month from january to december for private expenses according to the partnership deed interest in charged on drawing @10%per annum calculate the amount of interest to be charged on the partners drawings for the year​

Answer»

Please mark me in brain listExplanation:Calculation of interest on drawings: Number of drawings = 6 Amount of each DRAWING= 4000 Total drawings= 6*4000 = 24000 Number of months= [TIME left after 1st drawing + Time left after last drawing]/2 = [6+1]/2 = 3.5 months Hence, Interest on drawings= 24000 * 5/100 * 3.5/12 = 350



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