A and B are partners in a firm capital 5lac and 10 lac resp. The partnership deed provides for charging interest on drawings 5%p.a. A withdraw 40000 from his for personal use during 19-20.B withdrew 2lac from his capital on 1.1.20 . what will be the amount of interest?
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Answer:
interest on drawing is ...1000
40000*5%/½
Explanation:
and interest on capital is not calculated because the rate for interest on capital is not given
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