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

  • question_answer
    Vikas is a partner in a firm. His drawings during the year ended 31st March, 2019 were Rs.72,000. If interest on drawings is charged @ 9% p.the interest charged will be:

    A) Rs.324                          

    B) Rs.6,480    

    C) Rs.3,240                       

    D) Rs.648

    Correct Answer: C

    Solution :

    [c] Rs.3,240
    Hint: Interest on Drawings = 72,000 \[\times \frac{9}{100}\times \frac{6}{12}\] = Rs.3,240


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