Era, a partner withdrew ₹ 40,000 per month for her personal use from the firm in the beginning of each month
Era, a partner withdrew ₹ 40,000 per month for her personal use from the firm in the beginning of each month. Interest on her drawings was calculated at ₹ 31,200 at the end of the year. Calculate the rate of interest on her drawings.
[Ans. Rate of interest 12% p.a.]
Anurag Pathak Answered question May 30, 2024