Question

when drawings are made in the begining of each quarter

Answer 1

Answer:

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Explanation:

Calculate interest on drawing of Vimal if the withdrew Rs.48000 in year withdrawn evenly:

At beginning of each Quarter

In the middle of each Quarter

At end of each Quarter rate is 10% P. A.

Solution:

Case I: Drawing made on begnning of each quarter interest on drawing = Amount x Rate/100 x 7.5/12 = 48,000 x 10/100 x 7.5/12 = Rs.3,000

Case II: Drawing made in middle of each quarter interest on drawing = Amount x Rate/100 x 6/12 = 48,000 x 10/100 x 6/12 = Rs.2,400

Case III Drawings made at end of each quarter interest on drawing = Amount x Rate/100 x 4.5/12 = 48,000x10/100 x 4.5/12 = Rs.1800

Similarly Interest can be calculated by following formulas:

Half yearly Drawings for year when:

Drawings are made in the begnning of each period (halfyear) interest on drawing = Amount x Rate/100 x 9/12

Drawings are made in the middle of each period (half year) interes on drawing = Amount x Rate/100 x 6/12

Drawings are made at the end of each period (half year) interest on drawing = Amount x Rate/100 x 3/12

For monthly drawings for 6 months:

Drawings are made in beginning of each month Interest = Amount x Rate/100 x 3.5/12.

When drawings are made in the middle of each month interest = Amount x Rate/100 x 3/12.