Question

Mr Arun withdrew 5000 per
month in the beginning of
every month the rate of
interest on drawing is is 10%
per annum .what will be the
amount of interest on drawing
for the year ended 31st March
2017​

Answer 1

Answer:

Interest on drawings of Mr Arun -

₹5,000*12 months*10/100*6.5/12

₹3,250

I hope it helps :)

Explanation:

Answer 2

Solution :

$\\ \: \dag \sf \: Average \: Period \: = \frac{Total \: Months + 1}{12}$

$\sf \: \dag \: \frac{12 + 1}{2} = 6.5$

$\dag \sf \: Interest \: on \: Drawings \: = Amount \times \frac{Rate}{100} \times \frac{Average \: Period}{12}$

Interest On Drawings :

$\to \: 5000 \times \frac{10}{100} \times \frac{6.5}{12}$

$\to \: 500 \times 0.54$

$\to \: 270$

Interest On Drawings - 270 × 12 = 3,240

$\therefore \sf Interest \: on \: Drawings \: for \: the \: year \: ended \: = 3240$