Question

A and B are Partners .A drew Rs 32,000 .If the rate of Interest on Drawing is 12% per annum then ______ will amount of interest on drawings. pls Answer​

Answer 1

Explanation:

Calculation of interest on drawings:

Number of drawings = 6

Amount of each drawing= 4000

Total drawings= 6*4000

= 24000

Number of months= [Time left after 1st drawing + Time left after last drawing]/2

= [6+1]/2

= 3.5 months

Hence,

Interest on drawings= 24000 * 5/100 * 3.5/12

= 350

Answer 2

GIVEN :  A's Drawing = 32,000 ; Interest Rate = 12%

TO FIND : Interest on Drawing

SOLUTION :

Drawing is the amount withdrawn by partners in cash or kind for their personal use.

Drawing can be withdrawn from capital as well as against profit.

Assuming that drawings were made evenly throughout the year , Interest on drawing has been calculated for an average period of 6 months.

Interest on Drawing = 32,000  × $\frac{10}{100}$ × $\frac{6}{12}$

Interest on Drawing = 1,600

So, interest on drawing is rupees 1,200.

Interest on drawing is 12% per annum then 1,200 will amount of interest on drawing.