Class 12th Account chapter 1 question 41  solution (ts grewal)

QUESTION 41

A and B are partners sharing profits equally. A drew regularly ₹ 4,000 in the beginning of every month for six months ended 30th September, 2023. Calculate interest on drawings @ 5% p.a. for a period of six months ended 30th September, 2023.

[Ans.: Interest on Drawings—₹ 350.]

[Hint: Interest on drawings will be charged for average period of 3.5 months on total drawings.]