A, B and C started business on 1st July, 2015
drawings of Mr. C @ 9% p.a. for nine months ending 31st March
2016, if he withdraw 10,000 p.m. at end of every year
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Answer:
Interest on drawing =
amount × rate × average period
Amount = 10000×9=90000
(drawing of nine month)
rate = 9%
average period =
time left after ist drawing + time left after last drawing/ 2
= 8+0/2
=4 months
Interest = 90000×9/100×4/12
=2700
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