Plz give me the answer. Solve this in average period method.
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1
Explanation:
interest in drawing 1650 each month
Answered by
3
Explanation:
Given :
withdrawn amount = Rs. 2,500
at the end of each month.
• Himanshu withdrews Rs. 2,500 at the end of each month.
annual drawing = 12 × 2,500 = 30,000
annual drawing = 30,000
average period = 5.5
Rate = ,12%
Interest on drawing = annual drawing × rate × average period /12
= 30,000 × (12/100) × (5.5/12)
= 1,650
Interest on drawing = Rs 1,650
Hence, Interest on drawing = Rs 1,650.
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