ram withdraw 800 at end of every month for 6 months ending 30 June 2016 . identify interest on drawings of 5% per anum.
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Answer:
Assuming that the drawings were made evenly throughout the year, the interest on drawings has been calculated for an average period of 6 months.
Interest on Drawings = Total Drawings x Rate/100 x 5.5/12
Interest on Drawings = Rs. 3000 × 12 × 10/100 × 5.5/12
Interest on Drawings = Rs. 1650
Explanation:
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Answer:
50 is answer pls check the explanation....
Explanation:
Interest on drawings = 800×6×(2.5÷12)×5%
= 4800×2.5÷12×5%
= 1000×5%
= 50
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