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Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every month
- a)Kapur Rs. 2,400, sharma Rs. 2,400
- b)Kapur Rs. 1,100, sharma Rs. 1,300
- c)Kapur Rs. 1,200, sharma Rs. 1,200
- d)Kapur Rs. 1,300, sharma Rs. 1,100
Correct answer is option 'D'. Can you explain this answer?
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Kapur and sharma are partners in partnership firm. Calculate the inter...
To calculate the interest on drawings for Kapur and Sharma, we need to consider the amount and the duration for which they made the drawings.
Kapur's Drawings:
- Kapur withdrew Rs. 2,000/- per month in the beginning of each month.
- The duration for Kapur's drawings is from January 2013 to December 2013 (12 months).
Sharma's Drawings:
- Sharma withdrew Rs. 2,000/- per month at the end of each month.
- The duration for Sharma's drawings is also from January 2013 to December 2013 (12 months).
Now let's calculate the interest on drawings for each partner using the formula:
Interest on Drawings = (Amount of Drawings) x (Rate of Interest) x (Duration in years)
Calculating Kapur's interest on drawings:
- Amount of Drawings = Rs. 2,000/- per month
- Rate of Interest = 10% p.a. (10/100 = 0.10)
- Duration = 12 months
Kapur's interest on drawings = Rs. 2,000/- x 0.10 x 12 = Rs. 2,400/-
Calculating Sharma's interest on drawings:
- Amount of Drawings = Rs. 2,000/- per month
- Rate of Interest = 10% p.a. (10/100 = 0.10)
- Duration = 12 months
Sharma's interest on drawings = Rs. 2,000/- x 0.10 x 12 = Rs. 2,400/-
So, the correct answer is option 'D' - Kapur Rs. 1,300, Sharma Rs. 1,100.
Explanation:
The interest on drawings is calculated by multiplying the amount of drawings by the rate of interest and the duration in years. In this case, both Kapur and Sharma withdrew Rs. 2,000/- per month for 12 months. Therefore, the interest on their drawings is the same, which is Rs. 2,400/- each. The answer given in option 'D' - Kapur Rs. 1,300, Sharma Rs. 1,100 - is incorrect.
Kapur's Drawings:
- Kapur withdrew Rs. 2,000/- per month in the beginning of each month.
- The duration for Kapur's drawings is from January 2013 to December 2013 (12 months).
Sharma's Drawings:
- Sharma withdrew Rs. 2,000/- per month at the end of each month.
- The duration for Sharma's drawings is also from January 2013 to December 2013 (12 months).
Now let's calculate the interest on drawings for each partner using the formula:
Interest on Drawings = (Amount of Drawings) x (Rate of Interest) x (Duration in years)
Calculating Kapur's interest on drawings:
- Amount of Drawings = Rs. 2,000/- per month
- Rate of Interest = 10% p.a. (10/100 = 0.10)
- Duration = 12 months
Kapur's interest on drawings = Rs. 2,000/- x 0.10 x 12 = Rs. 2,400/-
Calculating Sharma's interest on drawings:
- Amount of Drawings = Rs. 2,000/- per month
- Rate of Interest = 10% p.a. (10/100 = 0.10)
- Duration = 12 months
Sharma's interest on drawings = Rs. 2,000/- x 0.10 x 12 = Rs. 2,400/-
So, the correct answer is option 'D' - Kapur Rs. 1,300, Sharma Rs. 1,100.
Explanation:
The interest on drawings is calculated by multiplying the amount of drawings by the rate of interest and the duration in years. In this case, both Kapur and Sharma withdrew Rs. 2,000/- per month for 12 months. Therefore, the interest on their drawings is the same, which is Rs. 2,400/- each. The answer given in option 'D' - Kapur Rs. 1,300, Sharma Rs. 1,100 - is incorrect.
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Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer?
Question Description
Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer?.
Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer?.
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Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Kapur and sharma are partners in partnership firm. Calculate the interest on drawings of kapur and sharma @ 10% p.a. for the year ending on 31st December 2013. Kapur withdrew Rs. 2,000/- per month in the beginning where as sharma withdrew same amount at the end of every montha)Kapur Rs. 2,400, sharma Rs. 2,400b)Kapur Rs. 1,100, sharma Rs. 1,300c)Kapur Rs. 1,200, sharma Rs. 1,200d)Kapur Rs. 1,300, sharma Rs. 1,100Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA CPT tests.
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