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A and B are partners sharing …

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A and B are partners sharing profits equally. A drew regularly 4,000 in the beginning of every month for six months ended 30th September, 2022. Calculate interest on drawings @ 5% p.a. for a period of six months.
  • 1 answers

Preeti Dabral 2 years, 4 months ago

Calculation of interest on drawings:
Total drawings = 6 × 4000 = 24000
Number of months = [Time left after 1st drawing + Time left after last drawing]2
= [6+1]2 = 3.5 months
Hence, Interest on drawings = 24,000 × 5100 × 3.512 = 350

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