. Radha and Ravi are partners in a firm. Radha’s drawings for the year
2020-21 are given as under:
₹ 5,000 on 01.04.2020
₹ 8,000 on 30.06.2020
₹ 3,000 on 01.12.2020
₹ 2,000 on 31.03.2021
Calculate interest on Radha’s drawings at 10% p.a. for the year ending on
31.03.2021, under product method.
Answers
Answered by
15
Explanation:
Under Total Product Method :-
5000 * 12 = 60000
8000 * 9 = 72000
3000 * 3 = 9000
2000 * 1 = 2000
Total = 60000 + 72000 + 9000 + 2000
= 143000
Interest on drawing
= total product x rate x 1/12
= 143000 x 10/100 x 1/12
= 1191.66
Answered by
14
Answer:
Under Total Product Method :-
5000 * 12 = 60000
8000 * 9 = 72000
3000 * 3 = 9000
2000 * 1 = 2000
Total = 60000 + 72000 + 9000 + 2000
= 143000
Interest on drawing = total product x rate x 1/12
= 143000 x 10/100 x 1/12
= 1191.66
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