Question

Q3. A partner withdrew Rs 30,000
out of his capital on 1st August
2018. Interest on drawings is
charged @10% p.a. Calculate
interest on drawings for the year
ending 31st March 2019.​

Answer 1

Explanation:

Drawing = 30000

interest on drawing calculate always for 6 months

so,

30000 x 10%=3000

3000 x 6/12=1500