Calculate the interest on drawings of Sh. Ganesh @ 9% p.a. for the year ended 31st March, 2024, in each of the following alternative cases:
Calculate the interest on drawings of Sh. Ganesh @ 9% p.a. for the year ended 31st March, 2024, in each of the following alternative cases:
Case (i) If he withdrew ₹ 4,000 p.m. in the beginning of every month:
Case (ii) If he withdrew ₹ 5,000 p.m. at the end of every month;
Case (iii) If he withdrew ₹ 6,000 p.m;
Case (iv) If he withdrew ₹ 72,000 during the year;
Case (v) If he withdrew as follows:
Case (vi) If he withdrew ₹ 12,000 in the beginning of each quarter;
Case (vii) If he withdrew ₹ 18,000 at the end of each quarter;
Case (viii) If he withdrew ₹ 18,000 during the middle of each quarter.
[Ans. Case (i) ₹ 2,340; Case (ii) ₹ 2,475; Case (iii) ₹ 3,240; Case (iv) ₹ 3,240; Case (v) ₹ 3,008; Case (vi) ₹ 2,700; Case (vii) ₹ 2,430; Case (viii) ₹ 3,240.]
| Date | ₹ |
| 30th April, 2023 | 10,000 |
| 1st July, 2023 | 15,000 |
| 1st Oct, 2023 | 18,000 |
| 30th Nov, 2023 | 12,000 |
| 31st March, 2024 | 20,000 |
Anurag Pathak Answered question May 24, 2024
