Question

Equal ratio irrespective of partners capitals.

Profits will not be distributed

6. Calculate interest on drawings of Mr. X @ 10% p.a. if he withdrawn Rs. 1000 per month (i) in the beginning of each Month (ii) In the middle each of month Oil) at end of each month. Total Amount withdrawn Rs. 1000x121000x 12=12, 000.​

Answer 1

(i) 1,000 *12*6.5/12*10/100 = 650

(ii)1,000*12*6/12*10/100= 600

(iii)1,000*12*5.5/12*10/100=550