Vinod, Gagan, Rajni and Simran are partners sharing profits and losses in the ratio of 4:3:2:1. Respectively. |
They have withdrawn the following amounts for their personal use. |
Vinod withdrew Rs.6,000 during the year against anticipated profit and Rs.20,000 against his capital. |
Gagan withdrew Rs.1,000 in the beginning of each month for nine months ending 31st March 2021. |
Rajni withdrew Rs.2,000 in the middle of each month for nine months ending 31st March 2021. |
Simran withdrew Rs.3,000 at the end of each month for nine months ending 31st March 2021. |
Interest on drawings is to be charged @10% p.a. |
Interest on Vinod's Drawings will be: |
A) 600
B) 300
C) 500
D) 250
Correct Answer: B
Solution :
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