Question

During the year each partner drew @ 3000 at the end of each quarter for a total of rs.9000. The date of their first drawing were on 1.4.18. Interest on Drawings @8%pa​

Answer 1

Answer:

interest on drawings = 9000 × 4.5/12 × 8%

4 .5 is taken because money is drawn at the beginning of the year

answer = 270 /;

Answer 2

Answer:

360

Explanation:

After 30th April:

3000×3/12×8%

=60

After 30 July:

(3000+3000)×3/12×8%

=120

After 30th October

(3000+3000+3000)×3/12×8%

=180

Therefore, INTEREST ON DRAWINGS = 60+120+180

=360