Question

2. A and B are partners. B draws a fixed amount at the end of every month.
Interest on drawings is charged @15% p.a. At the end of the year interest on
B's drawings amounts to 8,250. Drawings of B were :
(A) 12,000 p.m.
B) 10,000 p.m.
(C) 9,000 p.m.
(D) 8,000 p.m.
3. A and B are partners with a profit sharing ratio of 2 : 1 and capitals of
3,00,000 and 2,00,000 respectively. They are allowed 6% p.a. interest on
their capitals and are charged 10% p.a. interest on their drawings. Their
drawings during the year were A 360,000 and B 40,000. B's share of net
profit as per profit and loss appropriation account amounted to 40,000. Net
Profit of the firm before any appropriations was :
(A) 1,22,000
(B) 1,13,000
(C) 1,17,000
DY 1,45,000
14. A and B are partners in a firm. They are entitled to interest on their capitals but
the net profit was not sufficient for this interest, then the net profit will be
distributed among partners in :
(A) Agreed Ratio
(B) Profit Sharing Ratio
(C) Capital Ratio
(D) Fallv​

Answer 1

Answer:

2.ans Drawings of B were Rs. 10,000

Explanation:

Let per month drawings of B = x

Total months in a year = 12

Total drawings made by B during the year = 12 × (x) =12x

Interest on drawing = 8,250

Average period for interest on drawings=

(months remaining after first drawing x months remaining after last drawing)÷2 =

(11+0) ÷ 2 = 5.5 months

Interest on drawings = (annual drawing × Rate of interest × \frac{Average Period}{12}

12

AveragePeriod

8,250 = 12x × 15% × \frac{5.5}{12}

12

5.5

x = 10,000

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