Akshay and Rajesh are partners sharing profits and losses equally with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. Their drawings during the year are: Akshya’s drawings on:

Akshay and Rajesh are partners sharing profits and losses equally with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. Their drawings during the year are:

Akshya’s drawings on:

Rajesh drew ₹ 3,000 at the end of each month. The Partnership Deed provides interest on capitals and drawings @ 6% p.a.

Calculate interest on capital and drawings assuming the firm closes its books on 31st March every year.