gopal is a partner in a firm .he withdrew Rs.1,000 p.m regularly on the first day of every month during tge year ended 31 March,2018 for personal expenses . if intrest on drwaing is charged @15%p.a .clalculate the intrest on the drwaing of gopal.
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Formula for calculation of Interest on drawing =TD*n+1/2/12*r/100
TD=1000*12=12000
N=12
R=15%
Interest on drawing =12000*13/24*15/100
=975
I hope it will help you.
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