if ram withdrew ₹10000 each month on the last day of each month interest on drawing @10%p.a. for the year ended 31 st 2019 would be
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Rs 1,650
Assuming that the drawings were made evenly throughout the year, the interest on drawings has been calculated for an average period of 6 months.
Interest on Drawings = Total Drawings x Rate/100 x 5.5/12
Interest on Drawings = Rs. 3000 × 12 × 10/100 × 5.5/12
Interest on Drawings = Rs. 1650
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