Question

Ram and Mohan, two partners, drew for their personal use ₹ 1,20,000 and ₹ 80,000. Interest is chargeable @ 6% p.a. on the drawings. What is the amount of interest chargeable from each partner?

Answer 1

Answer:

Ram drew ₹ 1,20,000 &

mohan drew ₹ 80,000

6% interest charge

Ram charged ₹ 7200

Mohan charged ₹ 4800

Explanation:

Calculation

Ram 1,20,000 × 6/100 = ₹ 7200

Mohan 80,000 × 6/100 = ₹ 4800

hope its help u

Answer 2

Interest is calculated below

Explanation:

Amount withdrawn by Ram for personal use = Rs 1,20,000

Amount withdrawn by Mohan for personal use = Rs 80,000

Interest rate given is 6% per annum.

Since the time is not given in the question, average time of six months is taken for the calculation of interest.

Ram’s Interest

$= 1,20,000 \times \frac {6}{100} \times \frac {6}{12} = Rs. 3600$

Mohan’s Interest

$= 80,000 \times \frac{6}{100}\times \frac{6}{12} = Rs. 2400$

Thus, the amount of interest chargeable from Ram is Rs. 3600 and the amount of interest chargeable from Mohan is Rs. 2400.