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Calculate the interest on drawing@12% per …

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Calculate the interest on drawing@12% per annum in the following cases- a) 1000 are drawn four times during the year i.e. 1st january, 1st april,1st july, and 1st october

Posted by Amatullah Haideri 6 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Jhanwar Santosh 6 years, 2 months ago

From 1st jan to 31st march 1000*3/12*12/100=30 From 1st april to 31st june 1000*3/12*12/100=30 From 1st july to 31 september 1000*3/12*12/100=30 From 1st october to 1st january 1000*3/12*12/100=30 Now add all of them, 30+30+30+30=120.

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