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Question
Ruchika and Harshita were partners in a firm. Ruchika had withdrawn ₹ 9,000 at the end of each quarter throughout the year. The interest to be charged on Ruchika's drawings at 6% p.a. will be ______.
Options
₹ 540
₹ 2,160
₹ 1,080
₹ 810
MCQ
Fill in the Blanks
Solution
Ruchika and Harshita were partners in a firm. Ruchika had withdrawn ₹ 9,000 at the end of each quarter throughout the year. The interest to be charged on Ruchika's drawings at 6% p.a. will be ₹ 810.
Explanation:
Average period when drawing are made at the end of each Quarter = 4.5 months
Interest on drawings = `(9,000 xx 4) xx 6/100 xx 4.5/12`
₹ 810
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