Question

Velan is a partner who withdrew ₹ 20,000 on 1st April 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December 2018​

Answer 1

Answer:

1500/-

Explanation:

Interest on drawings = Amount of drawings x Rate of interest x Period of interest

20,000 × 10% × 9/12 = 1500/-

Answer 2

Explanation:

Velan is a partner who withdrew ₹ 20,000 on 1st April 2018. Interest on drawings is charged at 10% per annum. Calculate interest on drawings on 31st December 2018