The Total solution for NCERT class 6-12
Rishi is a partner in a firm. He withdrew thefollowing amounts during the year ended March 31, 2018.
May 01, 2017
₹ 12,000
July 31, 2017
₹ 6,000
September 30, 2017
₹ 9,000
November 30, 2017
January 01, 2018
₹ 8,000
March 31, 2018
₹ 7,000
Interest on drawings is charged @ 9% p.a. Calculateinterest on drawings.
Product Method
Drawings × Period
Product
01 May, 2017 to 31 March 2018
12,000 × 11 =
1,32,000
31 July, 2017 to 31 March 2018
6,000 × 8 =
48,000
30 September, 2017 to 31 March 2018
9,000 × 6 =
54,000
30 Nov. 2017 to 31 March 2018
12,000 × 4 =
01 Jan. 2018 to 31 March 2018
8,000 × 3 =
24,000
31 March 2018 to 31 March 2018
7,000 × 0 =
0
Sum of Product
3,06,000