Question

Calculate interest on drawing
A) if partner withdrew 1000 beginning of each quarter
b) if partner withdrew 1000 in middle of each quarter
c) if partner withdrew 1000 in end of each month
rate of interest on drawing is 6% p.a. ​

Answer 1

Answer:

a)450 b)120 c)330

Explanation:

a)12,000*6/100*7.5/12=450

b)4000*6/100*6/12=120

c)12000*6/100*5.5/12=330