A withdrew regularly₹600in the middle of every month for ten months

1.	A withdrew regularly₹600in the middle of every month for ten months ending 31st December 2018 calculate interest on drawings at 15%p.a.
Answer» Answer: Average period = Months left after first drawings+Months left after LAST drawings/2 A B C Average period= (6+1)/2 (5+0)/2 (5.5+0.5)/2 =3.5 months = 2.5 months = 3 months Interest on drawings= (60006)5%3.5/12 (60006)5%2.5/12 (360005%3/12) = 525 =375 =450

A withdrew regularly₹600in the middle of every month for ten months ending 31st December 2018 calculate interest on drawings at 15%p.a.

Answer»

Answer:

Average period = Months left after first drawings+Months left after LAST drawings/2

A B C

Average period= (6+1)/2 (5+0)/2 (5.5+0.5)/2

=3.5 months = 2.5 months = 3 months

Interest on drawings= (6000*6)*5%*3.5/12 (6000*6)*5%*2.5/12 (36000*5%*3/12)

= 525 =375 =450

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A withdrew regularly₹600in the middle of every month for ten months ending 31st December 2018 calculate interest on drawings at 15%p.a.

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