Question : In a Partnership firm, a Partner withdrew Rs. 5,000 per month on the first day of every month during the year for personal expenses. If interest on Drawimgs is charged @ 6% PA, the interest charged will Be
Option 1: Rs. 3,600
Option 2: Rs. 1,950
Option 3: Rs. 1,800
Option 4: Rs. 1,650
Correct Answer: Rs. 1,950
Solution : Answer = Rs 1,950
Drawings=Rs 5,000 per month×12=60,000 Interest on drawings=$60,000 \times \frac{6}{100} \times \frac{6.5}{12}$=Rs 1,950 Hence, the correct option is 2.
Question : C is a partner in a firm. He withdrew Rs. 10,000 in each quarter during the year ended March 31, 2019. Interest on drawings @ 9% PA will be
Question : Mr Yash, a partner in the firm withdrew Rs.24,000 at the end of every half year. The interest on such drawings will be charged @ 12% p.a. The amount of interest on drawings will be:
Question : On 1st June, 2018 a partner introduced in the firm additional capital Rs. 50,000. In the absence of partnership deed, on 31st march 2019 he will receive interest:
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