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bjaskar is a partner in a firm he withdrow 6000in the beginning of each month for 12th month thw book of the firm closed on 31st march every year calculate intrest on drowing if the raye of intrest is 10/p.a.
? Related: Guarantee of Profit to a Partner
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bjaskar is a partner in a firm he withdrow 6000in the beginning of eac...
Guarantee of Profit to a Partner
A guarantee of profit to a partner is a provision in the partnership agreement that ensures a minimum level of profit to each partner. This provision is usually included in the agreement to protect partners from losses and to provide them with a sense of financial security. The guarantee of profit is usually expressed as a percentage of the partner's capital contribution.
Calculation of Interest on Withdrawal
To calculate the interest on withdrawal, we need to know the following details:
- The amount of withdrawal
- The duration of the withdrawal
- The rate of interest
In this case, we know that:
- The amount of withdrawal is Rs. 6,000 per month
- The duration of the withdrawal is 12 months
- The rate of interest is 10% p.a.
Using these details, we can calculate the interest on withdrawal as follows:
- Calculate the total amount of withdrawal: Rs. 6,000 x 12 = Rs. 72,000
- Calculate the interest on the withdrawal: Rs. 72,000 x 10% = Rs. 7,200
Therefore, the interest on withdrawal for the year is Rs. 7,200.
Conclusion
In conclusion, a guarantee of profit to a partner is a provision in the partnership agreement that ensures a minimum level of profit to each partner. The interest on withdrawal can be calculated using the amount of withdrawal, duration of withdrawal, and the rate of interest. In this case, the interest on withdrawal for the year is Rs. 7,200.
A guarantee of profit to a partner is a provision in the partnership agreement that ensures a minimum level of profit to each partner. This provision is usually included in the agreement to protect partners from losses and to provide them with a sense of financial security. The guarantee of profit is usually expressed as a percentage of the partner's capital contribution.
Calculation of Interest on Withdrawal
To calculate the interest on withdrawal, we need to know the following details:
- The amount of withdrawal
- The duration of the withdrawal
- The rate of interest
In this case, we know that:
- The amount of withdrawal is Rs. 6,000 per month
- The duration of the withdrawal is 12 months
- The rate of interest is 10% p.a.
Using these details, we can calculate the interest on withdrawal as follows:
- Calculate the total amount of withdrawal: Rs. 6,000 x 12 = Rs. 72,000
- Calculate the interest on the withdrawal: Rs. 72,000 x 10% = Rs. 7,200
Therefore, the interest on withdrawal for the year is Rs. 7,200.
Conclusion
In conclusion, a guarantee of profit to a partner is a provision in the partnership agreement that ensures a minimum level of profit to each partner. The interest on withdrawal can be calculated using the amount of withdrawal, duration of withdrawal, and the rate of interest. In this case, the interest on withdrawal for the year is Rs. 7,200.
Community Answer
bjaskar is a partner in a firm he withdrow 6000in the beginning of eac...
Interest on drawing =7,200
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bjaskar is a partner in a firm he withdrow 6000in the beginning of each month for 12th month thw book of the firm closed on 31st march every year calculate intrest on drowing if the raye of intrest is 10/p.a. Related: Guarantee of Profit to a Partner?
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bjaskar is a partner in a firm he withdrow 6000in the beginning of each month for 12th month thw book of the firm closed on 31st march every year calculate intrest on drowing if the raye of intrest is 10/p.a. Related: Guarantee of Profit to a Partner? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about bjaskar is a partner in a firm he withdrow 6000in the beginning of each month for 12th month thw book of the firm closed on 31st march every year calculate intrest on drowing if the raye of intrest is 10/p.a. Related: Guarantee of Profit to a Partner? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for bjaskar is a partner in a firm he withdrow 6000in the beginning of each month for 12th month thw book of the firm closed on 31st march every year calculate intrest on drowing if the raye of intrest is 10/p.a. Related: Guarantee of Profit to a Partner?.
bjaskar is a partner in a firm he withdrow 6000in the beginning of each month for 12th month thw book of the firm closed on 31st march every year calculate intrest on drowing if the raye of intrest is 10/p.a. Related: Guarantee of Profit to a Partner? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about bjaskar is a partner in a firm he withdrow 6000in the beginning of each month for 12th month thw book of the firm closed on 31st march every year calculate intrest on drowing if the raye of intrest is 10/p.a. Related: Guarantee of Profit to a Partner? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for bjaskar is a partner in a firm he withdrow 6000in the beginning of each month for 12th month thw book of the firm closed on 31st march every year calculate intrest on drowing if the raye of intrest is 10/p.a. Related: Guarantee of Profit to a Partner?.
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