Question

Calculate interest on drawing if X withdrew Rs 8000 in the beginning of every month for 9 moths rate of interest od 10%p.a?

Answer 1

Solution:

Formula of Interest on drawings=Total month×r/100×A.P./12

Total month=72000

r=10%p.a

A.P.=2.5

So,

72000×10/100×2.5/12=1500

Hope it will be help you