Question

. A partner, Gaurav, withdrew 12,000 in the beginning of the each quarter during the year. Interest on drawings @ 8% chargeable to him will be:
(a) 1,440 (b) 2,400 (c) 2,080 (d) 1,760

Answer 1

Answer:

12,000×8/100×2.5 = 2400

Answer 2

"(b) 2400"

Explanation:

 Interest on drawings of Gaurav withdrew

 at the beginning of each quarter  =

                        12000 x 8/100 x 7.5/12 = 600

      Gaurav withdrawn every quarter per year = 4 months

            therefore,   600 x 4 = 2400