Question

A, B and C are partners, their partnership deed provides for interest on drawings at 8% per annum. B withdrew a fixed amount in the middle of every month and his interest on drawings amounted to ₹4,800 at the end of the year. What was the amount of his monthly drawings? (A) ₹10,000. (B) ₹5,000. (C) ₹1,20,000. (D) ₹48,000.​

Answer 1

A 10,000 correct answer is this only

Answer 2

Answer:

Option (A) ₹ 10,000

Explanation:

Given :

• B withdrew a fixed amount in the middle of every month
• Interest on drawing = ₹ 4,800
• Rate of interest = 8% per annum

To find :

• The amount of his monthly drawings

Solution :

Let,

Total amount of drawings = x

• If drawings are made in the middle of every month :

Average period = 6

★ Interest on drawings =

$\sf{\longrightarrow{Amount \: of \: drawings \: \times \: \dfrac{Rate \: of \: interest}{100} \: \times \: \dfrac{Average \: period}{12}}}$

$\sf{\longrightarrow{x \: \times \: \dfrac{8}{100} \: \times \: \dfrac{6}{12}}} \: = \: 4,800$

$\sf{\longrightarrow{x \: \times \: 0.04}} \: = \: 4,800$

⇒ 0.04x = 4,800

⇒ x = 4,800/0.04

⇒ x = 1,20,000

Total amount of drawings = ₹ 1,20,000

★ The amount of monthly drawings :

⇒ 1,20,000/12

⇒ 10,000

The amount of monthly drawings = ₹ 10,000

Therefore, Option (A) ₹ 10,000

The amount of monthly drawings = ₹ 10,000