Question

.Verma and Kaul are partners in a firm. The partnership agreement provides that interest on drawings should be charged@6%p.a. Kaul withdrew Rs.3,000 per quarter, stating from April1, 2019. What will be interest on Kaul’s drawings during the year 2019-20?

Answer 1

Answer:

12,000 x 6/100 x 7.5/12 = 450

Explanation:

For more details please see Ultimate Book of Accountancy class 12th CBSE

Answer 2

Concept introduction:

The amount acquired is referred to as the principle, and interest is measured as a percentage of the principal. Interest is a charge paid for borrowed funds or other property. for a specific period of time.

Explanation:

We have to answer the question.

A question has been given to us.

So the interest on Kaul’s drawings during the year

$12,000 * 6/100 * 7.5/12 \\=450$

Final answer:

So the final answer the question is => $450$.

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