Question

Rama and soma are partners sharing profits in the ratio of 3:2 Rama drew rupees 1500 regularly in the the beginning of every month and Soma druv rupees 1000 of the end of every month calculate interest on partners drawings are 9% per annum for the year ending 31st March 2018 under average period method?​

Answer 1

Answer:

★Rama : Annual drawings = ₹18,000 and intrest on drawings = ₹878

★Soma : Annual drawings = ₹12,000 and intrest on drawings = ₹495

Explanation:

★Intrest on drawings on rama

Given: Rama withdrew ₹1,500 at the beginning of every month

Money withdrawn = ₹1,500

In the beginning of every month

Intrest rate = 10%

To Find :

Intrest on drawings

Solution:

Intrest on drawings = Total amount of drawings × Rate × period

Total amount withdrawn

⇒ 1,500 × 12 = 18,000

★ Intrest on drawings=

⇒ 18,000 × $\frac{9}{100}$ × $\frac{6.5}{12}$

⇒ 877.5

Intrest on drawings = 878.00

There fore,

Annual drawings = ₹18,000 and intrest on drawings = ₹878

                            --------------------------------

★Intrest on drawings on soma

Given: soma withdrawn ₹1,000 at the end of every month

Money withdrawn = 1,000

In the end of every month

Intrest rate = 9%

To find :

intrest on drawings

Solution:

Intrest on drawings = Total amount of drawings × Rate × period

Total amount withdrawn

⇒ 1,000 × 12 = 12,000

★ Intrest on drawings=

⇒12,000 × $\frac{9}{100}$ × $\frac{5.5}{12}$

⇒495

Intrest on drawings = ₹495

There fore,

Annual drawings = ₹12,000 and intrest on drawings = ₹495