# Calculate the amount of Era’s monthly drawings for the year ended 31st March 2023 in the following cases when interest is charged on drawings @ 10% p.a

Calculate the amount of Era’s monthly drawings for the year ended 31st March 2023 in the following cases when interest is charged on drawings @ 10% p.a.

(i) When she withdrew a fixed amount in the beginning of each month and interest on drawings is ₹ 5,200.

(ii) When she withdrew a fixed amount at the end of each month and interest on drawings is ₹ 6,600.

[Ans. Case (i) ₹ 8,000 per month; Case (ii) ₹ 12,000 per month.]

Anurag Pathak Answered question May 25, 2024