Question : X and Y are partners. X draws a fixed amount at the end of each quarter. Interest on drawings is charged @ 10% p.a. At the end of the year, interest on drawings (X) amounts to 8,580. Drawings of X were per quarter?

Option 1: 44,400 per quarter

Option 2: 57,200 per quarter

Option 3: 22,800 per quarter

Option 4: none of these.

Question : C and D are partners. C draws a fixed amount at the beginning of every month. Interest on drawings is charged @ 10% p.a. At the end of the year, interest on C's drawings amounts to Rs 2,860. Drawings of C were:

Option 1: 5,200 per month

Option 2: 4,800 per month

Option 3: 4,400 per month

Option 4: 5,600 per month

Question : C and D are partners. C draws a fixed amount at the beginning of every month. Interest on drawings is charged @ 10% p.a. At the end of the year, interest on C's drawings amounts to Rs 2,860. Drawings of C were:

Option 1: 5,200 per month

Option 2: 4,800 per month

Option 3: 4,400 per month

Option 4: 5,600 per month

Question : In the absence of a partnership agreement, interest on partners' drawings is charged:

Option 1: @ 8% p.a.

Option 2: @ 9% p.a.

Option 3: @12% p.a.

Option 4: No interest is charged.

Question : In the absence of a partnership agreement, interest on partners' drawings is charged:

Option 1: @ 8% p.a.

Option 2: @ 9% p.a.

Option 3: @12% p.a.

Option 4: No interest is charged.