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

  • question_answer
    Z is a partner in a firm. He withdraw regularly Rs.2,000 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.480                          

    B) Rs.280    

    C) Rs.200                          

    D) Rs.240

    Correct Answer: D

    Solution :

    [d] Rs.240
    Hint: Interest on Drawings = (2,000\[\times \]6) \[\times \frac{8}{100}\times \frac{3}{12}\]= Rs.240


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