Question

Vinod a partner interest his drawings were chargeal Rs720 for average pariod of 6 months @ 12/pa. His drawings during the year were
a)7200
b)14,400
c)14,000
d)12,000 ​

Answer 1

Answer:

Given :

• Vinod , a partner Withdraws ₹ 720

• For Average Period 6 months

• At rate 12%

To Find :

• Amount of Drawings

Formula To Find Interest On Drawings :

${\underline{\boxed{\bf{Interest \: on \: Drawings =Amount \: \times \frac{Rate}{100} \times \frac{Average \:Period }{Total \: Months} }}}}$

where ,

• Interset = 720

• Amount = ?

• Rate = 12 %

• Average Period = 6 months

• Total Months = 12

Solution :

$\sf \to \: Interest \: on \: Drawings =Amount \: \times \frac{Rate}{100} \times \frac{Average \:period }{Total \: Months}$

We have to check the given amounts one by one to find amount of drawings ;

A ) 7200

$\sf\to \: 7200 \times \frac{12}{100} \times \frac{6}{12}$

$\sf \to \: 7200 \times 0.12 \times 0.5$

$\sf\to \: 432$

$\sf \to \: 720 \: \neq \: 432$

B ) 14,400

$\sf \to \: 14400 \times \frac{12}{100} \times \frac{6}{12}$

$\sf \to \: 14400 \times 0.12 \times 0.5$

$\sf \to \: 864$

$\sf\to \: 720\neq864$

C ) 14,000

$\sf\to \: 14000 \times \frac{12}{100} \times \frac{6}{12}$

$\sf \to \: 14000 \times 0.12 \times 0.5$

$\sf\to \: 840$

$\sf \to \: 720\neq840$

D) 12,000

$\sf \to \: 12000 \times \frac{12}{100} \times \frac{6}{12}$

$\sf \to \: 12000 \times 0.12 \times 0.5$

$\sf \to \: 720$

$\bf \to \: 720 = 720$

$\therefore\sf \: Amount \: of \: Drawings \: = 12000 \: (d)$