X and Y started business on 1st July, 2022. Calculate the Interest on Drawings of Y @ 10% p.a. for the year ended 31st March, 2023, if he withdrew ₹ 36,000 per quarter.
X and Y started business on 1st July 2022. Calculate the Interest on Drawings of Y @ 10% p.a. for the year ended 31st March 2023, if he withdrew ₹ 36,000 per quarter.
a) ₹ 4,500
b) ₹ 5,400
c) ₹ 4,050
d) ₹ 3,600
Anurag Pathak Changed status to publish April 9, 2023
Ans – c)
Explanation
Average Month = 7.5 + 1.5/2 = 4.5 Months
Interest on Y’s Drawings = 36,000 * 3 * 10% * 4.5/12 = ₹ 4050
Anurag Pathak Changed status to publish April 5, 2023
