Amit, a partner in a partnership firm, withdrew ₹ 7,000 at the beginning of each quarter. For how many months would interest on drawings be charged?
Amit, a partner in a partnership firm, withdrew ₹ 7,000 at the beginning of each quarter. For how many months would interest on drawings be charged?
Anurag Pathak Changed status to publish April 9, 2023
Average Months in case of drawings withdrawn at the beginning of each quarter.
12 + 3/2 = 7.5 Months.
Interest on Amit’s drawing would be as follows:-
7000 * 4 * rate of interest * 7.5/12 =
Anurag Pathak Changed status to publish April 4, 2023
