Question

If dates of drawings are not given, interest on drawings is charged for ________ months. (Fill in the blank by choosing correct option)
a) three
b) six
c) nine
d) twelve

Answer 1

If dates of drawings are not given, interest on drawings is charged for six months.
The answer is b) six

Answer 2

If the dates are not given for drawing, then the interest on drawing is charged for six months.  

Explanation:

• The word drawing means it is withdrawn by the person from the company for his personal use so for that drawing amount he or she needs to pay interest.
• Interest on drawing should be calculated from the date of withdrawal.
• In some cases, the date of withdrawal is not given means, we have to assumed that the drawing interest is for six months throughout the year.