Question

Ramu a partner in a firm withdraws Rs.3000 per month regularly at the 1st day of every month.
Calculate interest on drawing. (

Answer 1

✧Question :-

To find interst on drawings

✧Solution :-

Drawings - 3000

( 1st day of every month)

• To calculate average period:-

$\rm\red{ \: avg. \: period = \frac{total \: months \: + 1}{2} = \frac{12 + 1}{2} = 6.5}$

• To calculate interest on drawings:-

$\rm\blue{ \: interest \: on \: drawings = amount \times \frac{rate}{100} \times period}$

if interest rate is not given , then interest on drawings will be charged on 6%. as per partnership deed.

$\sf = > 3000 \times \frac{6}{100} \times \frac{6.5}{12} = 97.5$

$\sf = > 97.5 \: = 98$

interest on drawings of Ramu is ₹98