Question

suresh, a partner withdraw 1400 at the end of the every month for the half year ending 30th September 2016. calculate. interest to suresh's drawings at 8%p.a under the product method​

Answer 1

Answer:

instead of using product method we can find it out using a simple method

use 3.5 months

amount of drawings = (6×1400 = 8400)

interest = 8400×8/100×3.5/12 = 196

OR

date no. of months ₹ product

1-4-16 6 1400 8400

1-5-16 5 1400 7000

1-6-16 4 1400 5600

1-7-16 3 1400 4200

1-8-16 2 1400 2800

1-9-16 1 1400 1400

total of product = 29,400

interest = 29,400×8/100×1/12 = 196