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Read the hypothetical text and answer the following questions .Anil and Sunil started a firm on 1st April, 2020 sharing profits equally. Anil withdrew regularly ₹ 2,000 in the beginning of every month for the year ended 31St March, 2021 and Sunil withdrew the amount as follows.On 1st July,2020: ₹ 8,000On 1st October, 2020: ₹ 10,000On 1St February, 2021: ₹ 6,000As per Partnership Deed, interest on drawings is to be charged @ 10% p.a.Q1. What is the total amount of drawings of Anil and Sunil?a) ₹ 46,000 b) ₹ 48,000 c) ₹ 50,000 d) ₹ 52,000 Q2. Anil’s interest on drawings is ………………….. a) ₹ 1,100 b) ₹ 1,200 c) ₹ 1,300d) ₹ 1,400 Q3. Sunil’s interest on drawings is …………………. a) ₹ 1,000 b) ₹ 1,200 c) ₹ 1,400 d) ₹ 1,600 Q4. What is the average time period of Anil’s drawings? a) 5.5 months b) 6 months c) 6.5 months d) 12 months |
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Answer» Correct option is 1 b) ₹ 48,000 2 c) ₹ 1,300 3 b) ₹ 1,200 4 c) 6.5 months |
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