Question

In a partnership firm a partner with draw rupess500 per month on the frist day of every month during the year for personal expense if intrest on drawing is changed@ 6 per annum the intrest changed will be

Answer 1

Answer:

W.k.t if a partner withdraws fixed amount in the beginning of every month, interest is charged on the whole amount for 6 and 1/2 months.

TOTAL DRAWINGS = 500× 12= ₹ 6,000

interest on drawing

$6000 \times \frac{6}{100} \times 6 \frac{1}{2}$

$= 360 \times \frac{13}{2}$

= 180 × 13 = ₹ 2340

hope it will help you