X and Y started business on 1st July, 2022. Calculate the Interest on Drawings of Y @ 10% p.a. for the year ended 31st March, 2023, if he withdrew ₹ 36,000 per quarter.

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Anurag Pathak24.20K April 5, 2023 0 Comments

X and Y started business on 1st July 2022. Calculate the Interest on Drawings of Y @ 10% p.a. for the year ended 31st March 2023, if he withdrew ₹ 36,000 per quarter.

a) ₹ 4,500
b) ₹ 5,400
c) ₹ 4,050
d) ₹ 3,600

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Anurag Pathak24.20K Posted April 5, 2023 0 Comments

Ans – c)

Explanation

Average Month = 7.5 + 1.5/2 = 4.5 Months

Interest on Y’s Drawings = 36,000 * 3 * 10% * 4.5/12 = ₹ 4050

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