Calculate interest on drawings of Sanjay @ 10% p.a. for the year ended 31st March 2023, in each of the following alternative cases:

Calculate interest on drawings of Sanjay @ 10% p.a. for the year ended 31st March 2023, in each of the following alternative cases:

Case 1. If he withdrew ₹ 7,500 in the beginning of each quarter.

Case 2. If he withdrew ₹ 7,500 at the end of each quarter.

Case 3: If he withdrew ₹ 7,500 during the middle of each quarter.

[Ans: Interest on Drawings: Case – 1 – ₹ 1,875; Case – 2 – ₹ 1,125; Case – 3 – ₹ 1,500]