Question

calculate interest on drawings @6%p.a.​

Answer 1

Answer:

Kanika     1500/-

gautam- 2250/-

Explanation:

Calculation of interest on drawings Of Kanika    

Date Months Amount Product

Apr-19     12 10000 120000

Jun-19     10 9000 90000

Nov-19       5 14000 70000

Dec-19       4 5000 20000

                 Total 300000

   

Interest on drawings of Kanika = product*rate of interest/ 100*Number of months =300000*6/100*12     = 1500

Calculation of interest on drawings Of Gautam    

Date Months Amount Product

Apr-19      12 15000 180000

Jul-19       9 15000 135000

Oct-19       6 15000 90000

Jan-20       3 15000 45000

                 Total 450000

   

Interest on drawings of gautam = product*rate of interest/ 100*Number of months =450000*6/100*12       = 2250/-