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Harish is a partner in a firm. He withdrew the following amounts during the year 2019:

 
May 2019 4,000
August 2019 12,000
September 2019 4,000
December 2019 12,000
March 2020 4,000

Interest on drawings is to be charged @ 7 and 1/2% p.a.

Calculate the amount of interest to be charged on Harish’s drawings for the year ending December 31, 2020.

[Ans: Interest on Drawings, ₹ 1,800]

Anurag Pathak Changed status to publish March 25, 2024
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