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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. |
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Answer» 3000×12 = 36000 12 month rate = 9×12 =108% 108% of 36000 = 108/100×36000 =38880/- hence the INTEREST is 38880/-
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