Dev withdrew ` 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev’s Drawings.
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Answer:
Principal - ₹10,000
Rate of interest - 12%
Time - 15th day
Simple interest = principal × rate of interest × time
__________________________
100
= 10,000 × 12 × 15 = 18,00,000
_____________ _______
100 100
Answer = 18,000
Explanation:
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Answered by
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interest on drawings=600
hope this helps
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