Menonand Thomas are partners in a firm. They share profits equally. Theirmonthly drawings are Rs 2,000 each. Interest on drawings is to becharged 10% p.a. Calculate interest on Menon’s drawings forthe year 2006, assuming that money is withdrawn: (i) in the beginningof every month, (ii) in the middle of every month, and (iii) at theend of every month.

Menonand Thomas are partners in a firm. They share profits equally. Th

1.	Menonand Thomas are partners in a firm. They share profits equally. Theirmonthly drawings are Rs 2,000 each. Interest on drawings is to becharged 10% p.a. Calculate interest on Menon’s drawings forthe year 2006, assuming that money is withdrawn: (i) in the beginningof every month, (ii) in the middle of every month, and (iii) at theend of every month.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on drawings is to be charged 10% p.a. Calculate interest on Menon’s drawings for the year 2006, assuming that money is withdrawn: (i) in the beginning of every month, (ii) in the middle of every month, and (iii) at the end of every month.

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