Question

11. If a fixed amount is withdrawn by a partner on the first day of every month interest on the total amount is charged for ______ months.

a. 5.5
b. 6
c. 6.5
d. 7​

Answer 1

Explanation:

d) answer is 7

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Answer 2

If fixed amount is withdrawn on the first day of every month, the interest on the total amount of drawings shall be calculated for 6.5 months i.e. (Time left after the first drawing + Time left after the last drawing, the whole divided