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