Question

Interest on Drawings:

Sundar and Shanmugam are two partners equally. Sundar drew regularly Rs. 4,000 end of every month. Shanmugam draws Rs. 8,000 regularly beginning of every month. Calculate interest on their drawings @10%.

Answer 1

Interest on Drawings of Sundar: 

 Total drawings x Rate/100 x 5.5/12 

= 4000 x 12 x 10/100 x 5.5/12

= Rs. 2, 200 

Interest on Drawings of Shanmugam: 

 Total drawing x Rate/100 x 6.5/12

=  8000 x 12 x 10/100 x 6.5/12 

= Rs. 5, 200