give the complete solution of this question.
my answer is comming 300
please any student solve it please
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Answer:
Interest on drawing = Total drawings x rate of interest x average period/12
= 1,000 x 12 x 5/100 x 5.5/12 ()
= 12,000 x 5% x 5.5/12
= RS-275.
Working note:-
Average period = Beginning period of use + end period of use/2
= 11 + 0/2
= 5.5
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