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
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.
Question : Ram and Mohon are Partners with a capital of Rs 37500 and Rs 22,500, respectively. Interest Payable on capital @ 10% p.a. Find the interest on capital credited to both partners when the Profit earned by the firm is Rs 3600.
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
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