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A partner withdraws for personal use the following amounts on different dates:
i. Rs 3,000 - February 29, 2016
ii. Rs 3,800 - April 30, 2016
iii. Rs 4,200 - June 1, 2016
iv. Rs 3,000 - September 1, 2016
v. Rs 4,000 - November 1 ,2016
Calculate interest on drawings at 3% p.a. up to December 31 ,2016
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Calculation of Interest on drawing...
1st case:- Amount of Drawing:- 3000
Duration: _ March 1 to Dec. 31= 10 Months
Interest on drawing= 3000× 3/100× 10/12= 50
Follow this steps with all.
1st case:- Amount of Drawing:- 3000
Duration: _ March 1 to Dec. 31= 10 Months
Interest on drawing= 3000× 3/100× 10/12= 50
Follow this steps with all.
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