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

  • question_answer
    A partner withdraws Rs.800 each on 1st April and 1st Oct. Interest on his drawings @6% p.a. on 31st March will be:

    A) Rs.48                           

    B) Rs.72      

    C) Rs.24                           

    D) Rs.96

    Correct Answer: B

    Solution :

    [b] Rs.72
    Hint: Interest on drawings      (Rs.)
    \[=800\times 6%\]\[\times 12/12 =48\]
    \[=800\times 6%\]\[\times 6/12  =24\]
                                               \[72\]
     


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