Question

Gourav is a partner in a firm. He withdrew Rs 12,000 in the beginning of every month in a financial year. What will be his interest on drawings if rate of interest is 8% p.a. ? *

Answer 1

Explanation:

Drawing = 12000 ×12 = 144000

Rate = 8%

Intrest on drawing = 144000×8%×13/24

= 6240

Intrest on drawing Rs 6240

Answer 2

Answer:

I think we should multiply the rs by month in a year and the rate 8%..

Explanation:

Amount withdraw = -12000

No. of months in a year = 12

Amount withdraw in a year = -12000×12 =−144000

Rate = 8%

Interests on rate = -144000×8% ×13/24

= -6240

So, the interest in drawing is -6240.