Ram and Mohan are partners. They draw for personal use ₹ 60,000 and ₹ 40,000 respectively. Interest is chargeable @ 6% p.a. On Drawings. What is the interest on drawings?
Ram and Mohan are partners. They draw for personal use ₹ 60,000 and ₹ 40,000 respectively. Interest is chargeable @ 6% p.a. On Drawings. What is the interest on drawings?
a) Ram ₹ 1800 and Mohan ₹ 1200
b) Ram ₹ 3,600 and Mohan ₹ 2,400
c) Ram ₹ 300 and Mohan ₹ 200
d) None of these
Anurag Pathak Changed status to publish April 9, 2023
Ans – a)
Explanation:-
Interest on Ram’s Drawings = 60,000 * 6% * 6/12 = ₹ 1800
Interest on Mohan’s Drawings = 40,000 * 6% * 6/12 = ₹ 1200
Anurag Pathak Changed status to publish April 4, 2023
