Question

Plz give me the answer. Solve this in average period method.

Answer 1

Answer:

Interest on drawing of Mr. Manohar =  Rs 1,440.

Explanation:

Mr. Manohar withdrew Rs. 2,000 in the middle of each month.

annual drawing = 12 × 2,000 = 24,000

annual drawing = 24,000

average period = 6

Rate = ,12%

Interest on drawing = annual drawing ×

rate × average period /12

= 24,000 × (12/100) × (6/12)

= 1,440

Interest on drawing = Rs 1,440

Hence, Interest on drawing of Mr. Manohar =  Rs 1,440.