Question

calculate the interest on drawing of Shri Ganesh at the rate 9% per annum for the year ended 31st March 2016 in each of the following alternative cases case 1 if he withdraw 4000 per month in the beginning of every month​

Answer 1

Answer:

interest of drawing = RS 2340

Explanation:

when a fixed amount is withdrawn in the beginning of every month then the average period will be taken as 6.5.

average period is calculated by the formula :-

months left after first drawing + months left after last drawing / 2