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12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    X is a partner in a firm. He withdrew regularly Rs.100 at the beginning of every month for the six months ending 31st March, 2019. If interest on drawings is charged @ 8% p.a. the interest charged will be:

    A) Rs.24                           

    B) Rs.14

    C) Rs.10                           

    D) Rs.12

    Correct Answer: B

    Solution :

    [b] Rs.14
    Hint : Interest on Drawings = (100 x 6) \[\times \frac{3.5}{12}\times \frac{8}{100}\]= Rs.14
     


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