Ramesh and Pradeep are in partnership from 1st July, 2023 with capitals, Ramesh ₹ 3,00,000 and Pradeep ₹ 2,00,000
Ramesh and Pradeep are in partnership from 1st July, 2023 with capitals, Ramesh – ₹ 3,00,000 and Pradeep – ₹ 2,00,000. Pradeep withdrew same amount at the end of every quarter. Interest on drawings of Pradeep @ 10% p.a. for the year ended 31st March, 2024 was ₹ 10,800. Determine the amount withdrawn each quarter by Pradeep.
Anurag Pathak Changed status to publish April 24, 2024
Solution:-
Note:- As the partnership starts on 1st July. there are only 3 quarters up to 31st March.
1st July – 30th September
1st October – 31st December
1st January – 31st March
The average Months Period would be
Months remaining after 1st Drawings (after 3oth September) + Months remaining after Last drawings (after 31st March)/2
6 + 0/2 = 3 Months
Note:- As the partnership starts on 1st July. there are only 3 quarters up to 31st March.
1st July – 30th September
1st October – 31st December
1st January – 31st March
The average Months Period would be
Months remaining after 1st Drawings (after 3oth September) + Months remaining after Last drawings (after 31st March)/2
6 + 0/2 = 3 Months
Anurag Pathak Changed status to publish April 24, 2024
