Question

4. Calculate interest on drawings of Mr. Kamalakar a 10% p.a if he withdrew ?
1,000 per month by the short cut method:
(i) At the beginning of each month
(ii) At the end of each month.​

Answer 1

Given :

• Amount of Drawings = 1,000

• Rate of Interest = 10%

To Find :

• Interest On Drawings

Formula To Find :

$\circledast \: {\underline{\boxed{\rm { Interest \: on \: Drawings \: = Amount \times \frac{Rate}{100} \times \frac{Avg. \: Period}{12} }}}}$

Solution :

i ) At the begginning of Each month.

$\sf \leadsto Avg. \: Period \: = \frac{Total \: Period \: in \: Months + 1}{2}$

$\leadsto \sf \frac{12 + 1}{2} = 6 \frac{1}{2} \: Months$

$\leadsto \sf 6 \frac{1}{2} = 6.5$

Interest :

$\to \sf 1000 \times \frac{10}{100} \times \frac{6.5}{12}$

$\sf\to 1000 \times 0.1 \times 0.54$

$\sf \to \: 54$

ii ) At end of Each Month.

$\sf\leadsto \: Avg. \: Period \: = \frac{Total \: Period \: in \: Months - 1}{2}$

$\leadsto \sf \: \frac{12 - 1}{2} = 5 \frac{1}{2} \: Months$

$\leadsto \sf 5\frac{1}{2} = 5.5$

Interest :

$\sf \to \: 1000 \times \frac{10}{100} \times \frac{5.5}{12}$

$\to \sf \: 1000 \times 0.1 \times 0.45$

$\sf\to \: 45$

$\therefore \sf Interest\: on \: Drawings \: at \: Beginning \: = 54 \\ \therefore \sf \: Interest \: on \: Drawings \: at \: End \: = 45$

Answer 2

Answer:

$\huge\underline{\mathbb\red{☞︎︎︎A}\green{N}\mathbb\blue{S}\purple{W}\mathbb\orange{E}\pink{R}}\:$

Beginning Of each month= 54

End of each month= 45