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Dev withdrew ₹ 10,000 on the 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev’s Drawings.

Anurag Pathak
April 11, 2023
[CBSE] Fundamentals of Partnership Firm, [CBSE] TS Grewal Solutions, Accountancy Class 12th

Anurag Pathak28.60K April 11, 2023 0 Comments

Dev withdrew ₹ 10,000 on the 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev’s Drawings.

[Ans: Interest on Drawings – ₹ 7,200]

Anurag Pathak Changed status to publish April 11, 2024

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Anurag Pathak28.60K Posted April 11, 2023 2 Comments

Solution:-

Anurag Pathak Changed status to publish April 11, 2024

Just me commented December 19, 2023

Why is that extra 12 multiplied?

Anurag Pathak commented December 19, 2023

12 Installments

Interest on Drawings = drawings * number of drawings * rate of interest * Average Months/12

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Dev withdrew ₹ 10,000 on the 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev’s Drawings.

1 Answer

Anurag Pathak

1 Answer

Anurag Pathak

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