Question

A and B are partners sharing profits equally. A drew regularly 4,000 in the beginning of every month for six months ended 30th September, 2019. Calculate interest on drawings @5%p.a. for a period of six months. ​

Answer 1

Answer:

700/-(Seven hundred rupees)

Explanation:

Calculation of interest on drawings Of A"    

Date Months Amount Product

Apr-19      6           4000 24000

May-19      5            4000 20000

Jun-19      4            4000 16000

Jul-19      3            4000 12000

Aug-19      2            4000 8000

Sep-19      1            4000 4000

                     Total 84000

   

Interest on A drawings= product*rate of interest/ 100*Number of months 84000*5/100*6 700/-  

Answer 2

$\huge\mathbb\purple{AnSwEr}$

$drawings = 4000 \\ rate = 5\% \\ avg. \: period (in \: beginning \: of \: 6 \: months) = \frac{total \: period \: }{2} + 1 = \frac{6 + 1}{2 } = 3.5 \\ 4000 \times 6 = 24000 \\ 24000 \times \frac{3.5}{6 } \times \frac{5}{100} \\ = 700 \\ interst \: on \: drawings \: of \: a = 700$

hope this helps.