Raj and Kiran are in partnership from 1st June, 2023 with capitals of ₹ 6,00,000 and ₹ 4,00,000 respectively. Raj withdrew same amount in the beginning of
Raj and Kiran are in partnership from 1st June, 2023 with capitals of ₹ 6,00,000 and ₹ 4,00,000 respectively. Raj withdrew same amount in the beginning of every month starting July, 2023. Interest on drawings of Raj @ 5% p.a. for the year ended 31st March, 2024 was ₹ 2,400. Determine the amount withdrawn each month by Raj.
Anurag Pathak Changed status to publish April 24, 2024
Solution:-
Note:- As the partnership firm started from 1st July. there are only 9 withdrawals up to 31st March.
Calculation of Average Months
Months remaining after 1st Drawings (after 1st July) + Months remaining after last drawings (after 1st March)/2
9 + 1/2 = 5 Months
Anurag Pathak Changed status to publish April 24, 2024
