Question

Ayesha is a partner in a firm. She withdrew ₹6,000 at the end of each quarter during the year ended 31st March, 2019. Interest on her drawings @ 10% P.a. will be:​




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Answer 1

Step-by-step explanation:

Ayesha withdrew ₹6,000 at the end of each quarter

Total amount withdrawn = 6,000 × 4

= ₹24,000

(Frequency of withdrawal) = quarterly

at the end of each quarter = (9+0)/2 = 4.5

Interest on her drawings =

Total amount withdrawn × rate × average period/12

= ₹24,000 × 10/100 × 4.5/12

= 900

Interest on her drawings = ₹900

Therefore, Interest on her drawings = ₹900

Answer 2

Answer:

Step-by-step explanation:

Ayesha  withdrew ₹6,000 at the end of each quarter

☆Total amount withdrawn = 6,000 × 4= ₹24,000

(Frequency of withdrawal) = quarterlyat the end of each quarter = (9+0)/2 = 4.5

☆Interest on her drawings =

▪Total amount withdrawn × rate × [(average period)/12]

☆= ₹24,000 × 10/100 × 4.5/12

= 900

☆Interest on her drawings = ₹900