1.

Partner X, withdrew Rs.3,000 per month during 2019. Interest on drawings is charged @ 9% perannum. Find out interest, if drawings were made on the 1st day of every month.​

Answer»

3000×12

= 36000

1 MONTH RATE = 9%

12 month rate = 9×12

=108%

108% of 36000

= 108/100×36000

=38880/-

hence the INTEREST is 38880/-



Discussion

No Comment Found

Related InterviewSolutions