Question

A, B and C are partners, their partnership deed provides for interest on drawings at 8% per annum. B withdrew a fixed amount in the middle of every month and his interest on drawings amounted to ₹4,800 at the end of the year. What was the amount of his monthly drawings?

Options

• ₹10,000

• ₹5,000

• ₹1,20,000

• ₹48,000

Answer 1

₹10,000