Class 12th Account chapter 1 question 37 solution (ts grewal)

37. Ram and Mohan, two partners, drew for their personal use ₹ 1,20,000 and ₹ 80,000. Interest is chargeable @ 6% p.a. on the drawings. What is the amount of interest chargeable from each partner?

  [Ans.: Interest on Drawings: Ram—₹ 3,600 and Mohan—₹ 2,400]

[Hint: When the dates of drawings are not given, interest on drawings is calculated on the total amount of drawings for average period of 6 months.]