Question

A and Bare partners in afirm. A withdrew 48000in equal installments in beginning of every month.if rate of interest on drawings is 5%p.a. calculate amount of interest on drawings.

Answer 1

$\huge\mathbb\purple {AnSwEr}$

interest on drawings=1300

$amount = 48000 \\ rate = 5\% \\ avg. \: period(in \: beginning \: of \: every \: month) = \frac{total \: months + 1}{2} \\ = \frac{12 + 1}{2} = 6.5 \\ interest \: on \: drawings = 48000 \times \frac{5}{100} \times \frac{6.5}{12} \\ = 1300$