Question

How will you calculate interest on drawings when fixed amount is withdrawn at the end of each quarter?​

Answer 1

Explanation:

Drawing made on begnning of each quarter interest on drawing = Amount x Rate/100 x 7.5/12 = 48,000 x 10/100 x 7.5/12 = Rs. 3,000.

Answer 2

Answer:

for Calculating IOD take average period of 4.5

means drawing × rate of interest × average period/12