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Harish is a partner in a firm. He withdrew the following amounts during the year 2006 :

February 01             4,000

May 01                    10,000

June 30                   4,000

October 31              12,000

December 31            4,000

Interest on drawings is to be charged @ 7 1/2 % p.a. Calculate the amount of interest to be charged on Harish’s drawings for the year ending December 31, 2006.

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Calculation of interest on harish" Drawings

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