Ram and Mohan, two partners, drew for their personal use ₹ 1,20,000 and ₹ 80,000. Interest is chargeable @ 6% p.a. on the drawings. What is the amount of interest chargeable from each partner?

[Ans: Interest on Drawings: Ram – ₹ 3,600 and Mohan – ₹ 2,400]

[Hint: When the dates of drawings are not given, interest on drawings is calculated on the total amount of drawings for average period of 6 months]

Anurag Pathak Changed status to publish April 11, 2024
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