1.

Read the hypothetical text and answer the following questions.A, B and C started a firm on 1st October, 2020 sharing profits equally. A drew regularly ₹ 4,000 in the beginning of every month for the six months ended 31st March, 2021. B drew regularly ₹ 4,000 at the end of every month for the six months ended 31st March, 2021. C drew regularly ₹ 4,000 in the middle of every month for the six months ended 31st March, 2021. IOD is charged at 5% p.a1. What the total amount of drawings of the partners? a) ₹ 1,44,000 b) ₹ 72,000 c) ₹ 24,000 d) 96,000 2. What is the interest on drawings of B?a) ₹ 350 b) ₹ 300 c) ₹ 200 d) ₹ 250 3. What is the interest on drawings of A? a) ₹ 300 b) ₹ 250 c) ₹ 350 d) ₹ 400 4. What is the total amount of interest on drawings of the partners? a) ₹ 1,200 b) ₹1,500 c) ₹ 600 d) ₹ 900.

Answer»

1. b) ₹ 72,000

2. d) ₹ 250

3. c) ₹ 350

4. d) ₹ 900.



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