Question

Calculate interest on drawings Of Mr. siddhant @ 10% p.a for the year ended 31 st March , 2019 in each of the following alternative cases :
Case1. if he withdrew Rs. 60,000 in the beginning fo each quarter .
case 2. if the withdrew Rs. 60,000 at the end of each quarter .
Case 3. if he withdrew RS. 90,000 in the middle of each quarter .

Answer 1

Total Drawings in cases 1 and 2=` Rs. 60,000 xx4=Rs. 2,40,000`
Total Drawings n case 3= Rs. 90,000`xx`4= Rs. 3,60,000.

Situation 7. if fixed amount is with drawn during 6 months :
(i) in the beginning of each month:
interest on drawings =Total Drawings `xx("Rate ")/(100)xx(3^(1/2))/(12)` ltbr. (ii) in the middle of each month :
interest on drawings =Total Drawings `xx("rate")/(100)xx(3)/(12)`
(iii) At the end of each month :
interest on Drawings =total Drawings `xx("Rate")/(100)xx(2^(1/2))/(12)`