Question

Priya and Kala are partners Priya draws Rs. 8,000 at end of each quarter. Interest on drawings @6% p.a. Kala draws Rs. 2000/- per month at the end of the month.

Answer 1

Interest of drawings: 

Priya: 

= 8,000 x 4 = 32,000

Interest on Drawings = Total amount of drawing x Rate/100 x (Aerage period)/12

= 32000 x 6/100 x 4.5/12 = Rs. 720

Kala:

= 2000 x 12 x 5.5/12 x 6/100  = Rs. 110