Question

Z is a partner in a firm. he withdrews regularly Rs.2000 per month for 6 months ending 31 march 2006 .if intrest on drawing is charged @8%p.a. the intrest charged will be​

Answer 1

Answer:

The interest charged will be Rs 480

Explanation:

Given :

Interest rate = 8 % p.a.

Z withdrews regularly Rs.2,000 per month for 6 months

To find :

The interest on drawings

Solution :

★ Average period = 6

★ The interest on drawings = Total drawing × rate of the interest × Average period / 12

⇒ The interest on drawings = drawings amount × 8 / 100 × 6 / 12

⇒ The interest on drawings =

⇒ 12,000 × 8 / 100 × 6 / 12

⇒ $12,000 \times \dfrac{8}{100} \times \frac{6}{12}$

⇒ $12,000 \times 0.08 \times \dfrac{6}{12}$

⇒ $12,000 \times 0.08 \times \dfrac{6}{12} = 480$

⇒ 480

The interest on drawings = Rs 480

Therefore,

The interest charged will be Rs 480

Answer 2

Answer:

the correct answer is 240

Explanation:

total amount withdrew in six months= 2000*6= 12000

average period for a year is 6 months

that means average period for six months will be 3 months....

so it can be calculated as

amount* interest/100*3/12

12000*8/100*3/12=240

so 240 is the answer