Question

In a partnership firm, Ram withdraws Rs. 400 in the middle of each month
while Rohan withdraws Rs. 300 at the end of each month during the year.
Calculate the interest on drawing @ 15% p.a.
O Ram - Rs. 360, Rohan - Rs. 247.50
O Ram - Rs. 60, Rohan - Rs. 45
Ram - Rs. 720, Rohan - Rs. 540
O Ram
Rs. 312, Rohan - Rs. 270​

Answer 1

Answer:

Ram - Rs. 360, Rohan - Rs. 247.50

The interest on drawing :

• Ram = Rs. 360
• Rohan = Rs. 247.50

Explanation:

• Ram withdraws = Rs. 400

• In the middle of each month

• Interest rate = 15 %

Calculate the interest on drawing :

Total amount withdrawn by Ram = 4,800

Average Period = 6

Interest on drawing =

Total Amount × Rate Of Interest × Average Period / 12

$\boxed{\sf{Total\:Amount \times \dfrac{Rate \: Of \: Interest}{100} \times \dfrac{Average \: Period}{12}}}$

$\longrightarrow{\sf{4,800 \times \dfrac{15}{100} \times \: \dfrac{6}{12}}}$

$\longrightarrow$ 360

Interest on drawing (Ram) = Rs. 360

__________________________

• Rohan withdraws = Rs. 300

• At the end of each month

• Interest rate = 15 %

Calculate the interest on drawing :

Total amount withdrawn by Rohan = 3,600

Average Period = 5.5

Interest on drawing =

Total Amount × Rate Of Interest × Average Period / 12

$\boxed{\sf{Total\:Amount \times \dfrac{Rate \: Of \: Interest}{100} \times \dfrac{Average \: Period}{12}}}$

$\longrightarrow{\sf{3,600 \times \dfrac{15}{100} \times \dfrac{5.5}{12}}}$

$\longrightarrow$ 247.50

Interest on drawing (Rohan) = Rs. 247.50

∴Ram - Rs. 360, Rohan - Rs. 247.50

The interest on drawing :

• Ram = Rs. 360
• Rohan = Rs. 247.50