a draws 10000 from the firm in the beginning of every month, B draws 10000 from the firm in the end of every month C draws 10000 from the firm in the middle of every month. Interest on drawing is to be charged @8% p.a. Calculate interest on partner's drawing.
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Answer:
A: 1,20,000 x 8/100 x 6.5/12 = 5,200
B: 1,20,000 x 8/100 x 5.5/12 = 4,400
C: 1,20,000 x 8/100 x 6/12 = 4,800
Explanation:
For more detail please see Ultimate Book of Accountancy class 12th CBSE
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