A partner withdrew Rs 80,000 for 9 months in a year. What is the interest on drawings at 8% per annum?
Answer and explanation
Correct answer: B. Rs 4,800
- Step 1: Interest = amount x rate x months / 1200.
- Step 2: 80000 x 8 x 9 / 1200 = 4800.
Answer
Rs 4,800.
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