Question

4. Calculate interest on drawings of Mr. Kamalakar @10% p.a if he withdrew ?
1,000 per month ly the short cut method:
(i) At the beginni ig of each month
(ii) At the end of each month.कैलकुलेट इंटरेस्ट ऑन ड्राइंग्स ​

Answer 1

Explanation:

• Case I: Drawing made on begnning of each quarter interest on drawing = Amount x Rate/100 x 7.5/12 = 48,000 x 10/100 x 7.5/12 = Rs.3,000

• Case II: Drawing made in middle of each quarter interest on drawing = Amount x Rate/100 x 6/12 = 48,000 x 10/100 x 6/12 = Rs.2,400

• Case III Drawings made at end of each quarter interest on drawing = Amount x Rate/100 x 4.5/12 = 48,000x10/100 x 4.5/12 = Rs.1800

• Similarly Interest can be calculated by following formulas:

        Half yearly Drawings for year when:

• Drawings are made in the begnning of each period (halfyear) interest on drawing = Amount x Rate/100 x 9/12

• Drawings are made in the middle of each period (half year) interes on drawing = Amount x Rate/100 x 6/12

• Drawings are made at the end of each period (half year) interest on drawing = Amount x Rate/100 x 3/12

• For monthly drawings for 6 months:

• Drawings are made in beginning of each month Interest = Amount x Rate/100 x 3.5/12.

• When drawings are made in the middle of each month interest = Amount x Rate/100 x 3/12.