Question

97. A partner withdraws 8,000 each on 1st
April and 1st Oct. Interest on his drawings @
6% p.a. on 31 st March will be:
(AJ 2480
(B) 720
(C) *240
(D) 1960​

Answer 1

Answer:

(B) 720

Explanation:

We have to find interest on his drawings 6% p.a. on 31st March.

Withdrawing total amount = 8000 + 8000=16000 Rate of interest, r=6% p.a.

Therefore, the interest on his drawings will be 720 Rs.