If a fixed amount is withdrawn by a partner on the first day of every month interest on the total am...........

If a fixed amount is withdrawn by a partner on the first day of every month, interest on the total amount is charged for …………… months :

61/2

51/2

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Explanation:

- When a fixed amount is withdrawn by a partner at the beginning of each month, interest is typically calculated based on the average period of usage.

- Since the withdrawal occurs every month at the start, the first month's withdrawal uses funds for the full 12 months, the second for 11, and so forth, until the last withdrawal is used for only one month.

- The average time period for which interest is calculated can be understood as the average of numbers 1 to 12.

- This average is calculated as (1+2+3+...+12)/12, which equals 6.5 months.

Option 2: 6.5 months is correct.