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
Option 1: Rs. 1,350
Option 2: Rs. 2,250
Option 3: Rs. 900
Option 4: Rs. 1,800
Answer (1)
23rd Jan, 2024
Correct Answer: Rs. 1,350
Solution :
Answer =
Rs 1,350
Interest on drawings=10,000×4=40,000.
$40,000 \times \frac{9}{100} \times \frac{4.5}{12}$ = Rs. 1,350 p.a.
Hence, the correct option is 1.
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