X, Y and Z are partners in a firm. You are informed that (i) X draws ₹ 4,000 from the firm at the beginning of every month, (ii) Y draws ₹ 4,000 from the firm at the end of every month

X, Y and Z are partners in a firm. You are informed that (i) X draws ₹ 4,000 from the firm at the beginning of every month, (ii) Y draws ₹ 4,000 from the firm at the end of every month, and (iii) Z draws ₹ 4,000 from the firm in the middle of every month. Interest on drawings is to be charged @ 9% p.a. Calculate interest on partner’s drawings.

[Ans. Interest on Drawings X ₹ 2,340; Y ₹ 1,980 and Z ₹ 2,160.]