Menon and Thomas are partners in a firm. They share profits equally. Their monthly drawings are Rs 2,000 each. Interest on drawings is to be charged 10% pa. Calculate interest on Menon's drawings for the year 2006, assuming that money is withdrawn (i) in the beginning of every month, (ii) in the middle of every month, and (iii) At the end of every month.

Menon and Thomas are partners in a firm. They share profits equally. T

1.	Menon and Thomas are partners in a firm. They share profits equally. Their monthly drawings are Rs 2,000 each. Interest on drawings is to be charged 10% pa. Calculate interest on Menon's drawings for the year 2006, assuming that money is withdrawn (i) in the beginning of every month, (ii) in the middle of every month, and (iii) At the end of every month.
Answer» Menon and Thomas are partners in a firm. They share profits equally. Their monthly drawings are Rs 2,000 each. Interest on drawings is to be charged 10% pa. Calculate interest on Menon's drawings for the year 2006, assuming that money is withdrawn (i) in the beginning of every month, (ii) in the middle of every month, and (iii) At the end of every month.