Question

Ram withdrawa 600 on the first day every month during 6 month ending it 30 June 2016 personal expenses if if

Answer 1

Explanation:

Calculation of interest on drawings:

Number of drawings = 6

Amount of each drawing= 4000

Total drawings= 6*4000

                         = 24000

Number of months= [Time left after 1st drawing + Time left after last drawing]/2

                               = [6+1]/2

                               = 3.5 months

Hence,

Interest on drawings= 24000 * 5/100 * 3.5/12

                                  = 350