B and M are partners in a firm. They withdrew ₹ 48,000 and ₹ 36,000 respectively during the year evenly in the middle of every month. According to the partnership agreement, interest on drawings is to be charged @ 10% p.a. Calculate interest on drawings of the partners using the appropriate formula.

B and M are partners in a firm. They withdrew ₹ 48,000 and ₹ 36,00

1.	B and M are partners in a firm. They withdrew ₹ 48,000 and ₹ 36,000 respectively during the year evenly in the middle of every month. According to the partnership agreement, interest on drawings is to be charged @ 10% p.a. Calculate interest on drawings of the partners using the appropriate formula.
Answer» t is CALCULATED as given below. Explanation:AMOUNT WITHDRAWN by B in the YEAR dividing evenly in the “middle” of every month = Rs 48000 Amount withdrawn by M in the year dividing evenly in the “middle” of every month = Rs 36000 Interest rate given is 10% per annum. Time would be six MONTHS as amount is withdrawn in the “middle” of every month. B’s Interest M’s Interest Thus, the partner B's interest and M's interest will be Rs. 2400 and Rs. 1800 respectively.

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