Question

During the year ended 31-3-2018 a partner made the following drawings. calculate interest on drawing when it is charged@ 10% p.a April 30-2000 July1-5000 October 31-4000 March 1- 3000 March 31- 2000. solve-​

Answer 1

Answer:

Explanation:

QUESTION:-

partner made the following drawings. calculate interest on drawing

GIVEN DATAS:-

• interest on drawing when it is charged@ 10% p.a
• April 30-2000
• July1-5000
• October 31-4000
• March 1- 3000
• March 31- 2000.

(A)

• April 30-2000 FOR 11 MONTHS @ 10%

⇒  2,000 × 10% × ¹¹/₁₂ =  183--------(1)

(B)

• July1-5000 FOR  MONTHS

⇒ 5,000 × 10% × ⁹/₁₂ = 375----------(2)

(C)

• October 31-4000 FOR 5 MONTHS

⇒ 4,000 × 10% × ⁵/₁₂ = 166.666 = 167---(3)

(D)

• March 1- 3000 FOR 1 MONTH

⇒ 3,000 × 10% × ¹/₁₂ = 25-------(4)

(E)

• March 31- 2000

⇒ 2,000 × 10% × 1/12 = 17------(5)

INTREST ON DRAWINGS = 1 + 2 +3 + 4 +5

= 183 + 375 + 167 + 25 + 17 = 767