and B are partners. B draws a fixed amount at the end of every month. Interest on drawings is charged @15% p.a. At the end of the year interest on B’s drawings amounted to ₹8,250. Drawings of B were:
a) ₹12,000 p.m.
b) ₹10,000 p.m.
c) ₹9,000 p.m.
d)8000
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Answer:
Let per month drawings of B = x
Total months in a year = 12
Total drawings made by B during the year = 12 × (x) =12x
Interest on drawing = 8,250
Average period for interest on drawings=
(months remaining after first drawing x months remaining after last drawing)÷2 =
(11+0) ÷ 2 = 5.5 months
Interest on drawings = (annual drawing × Rate of interest ×
8,250 = 12x × 15% ×
x = 10,000
Explanation:
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