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Charulata is a partner in a firm. She withdrew 10,000 in each quarter during the year ended 31st March, 2019. Interest on her drawings @ 9% p.a. will be:
1,350
2,250
900
1,800
- Charulata withdrew Rs 10,000 at the end of each quarter: June, September, December, and March.
- Total drawings = 10,000 X 4 = 40,000
- Interest on drawings is calculated based upon the average period of usage for the amount withdrawn.
- When date of drawing is not mentioned average period is taken 6 months
40,000 X 9/100 X 6/12 = 18,000
$$
- Options given are:
- 1,350
- 2,250
- 900
- 1,800
- Option 4: 1,800 is the correct calculation.
By: santosh ProfileResourcesReport error
Nidhi Suresh Kumar
pls explain 'how'
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