Question

Gupta is a partner in a firm . He drew regularly Rs 800 at the end of every month for
the 6 months ending 31 march 2018. Calculate interest on drawings at 15%p.a.

Answer 1

Answer:

800×6= 4800

, since drawing is made for 6 months hence we calculate 800 with 6 , In the next step ,

4800×3.5÷12×15÷100 = 210

Answer 2

GIVEN :  Drawing for one month = 800 ; Interest on drawing is 15%p.a.

TO FIND : Interest on drawing

SOLUTION :

Drawing is the amount withdrawn for personal use from the firm or organisation.

As gupta is withdrawing for six months and he withdrew 800 per month.

So, drawing for the year is 4,800.

Time Period = $\frac{6+1}{2}$

                      = 3.5

Interest on drawing = 4,800 × $\frac{3.5}{12}$ × $\frac{15}{100}$

                                 = 210

Interest on drawing is 210.

Interest on drawing is 210.