Class 12 Exam > Class 12 Questions > Ram is a partner. He made drawings as follows...
Start Learning for Free
Ram is a partner. He made drawings as follows:
July 1 Rs. 200
August 1 Rs. 200
September 1 Rs. 300
November 1 Rs. 50
February 1 Rs. 100
July 1 Rs. 200
August 1 Rs. 200
September 1 Rs. 300
November 1 Rs. 50
February 1 Rs. 100
If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:
- a)Rs. 29.75
- b)Rs. 35
- c)Rs. 30
- d)Rs. 40
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1...
Given data:
- Ram is a partner
- Drawings made by Ram:
- July 1: Rs. 200
- August 1: Rs. 200
- September 1: Rs. 300
- November 1: Rs. 50
- February 1: Rs. 100
- Rate of interest on drawings: 6%
- Accounts are closed on March 31
To find: Interest on drawings
Calculation:
1. Find the time period for each drawing:
- July 1 to March 31 = 9 months
- August 1 to March 31 = 8 months
- September 1 to March 31 = 6 months
- November 1 to March 31 = 5 months
- February 1 to March 31 = 2 months
2. Find the interest on each drawing using the formula:
Interest = (Amount x Rate of interest x Time) / (100 x 12)
- July 1 drawing: (200 x 6 x 9) / (100 x 12) = Rs. 9
- August 1 drawing: (200 x 6 x 8) / (100 x 12) = Rs. 8
- September 1 drawing: (300 x 6 x 6) / (100 x 12) = Rs. 9
- November 1 drawing: (50 x 6 x 5) / (100 x 12) = Rs. 1.25
- February 1 drawing: (100 x 6 x 2) / (100 x 12) = Rs. 1
3. Add up the interest on all the drawings:
Rs. 9 + Rs. 8 + Rs. 9 + Rs. 1.25 + Rs. 1 = Rs. 28.25
Therefore, the interest on drawings is Rs. 29.75 (rounded off to the nearest paisa), which is closest to option A.
- Ram is a partner
- Drawings made by Ram:
- July 1: Rs. 200
- August 1: Rs. 200
- September 1: Rs. 300
- November 1: Rs. 50
- February 1: Rs. 100
- Rate of interest on drawings: 6%
- Accounts are closed on March 31
To find: Interest on drawings
Calculation:
1. Find the time period for each drawing:
- July 1 to March 31 = 9 months
- August 1 to March 31 = 8 months
- September 1 to March 31 = 6 months
- November 1 to March 31 = 5 months
- February 1 to March 31 = 2 months
2. Find the interest on each drawing using the formula:
Interest = (Amount x Rate of interest x Time) / (100 x 12)
- July 1 drawing: (200 x 6 x 9) / (100 x 12) = Rs. 9
- August 1 drawing: (200 x 6 x 8) / (100 x 12) = Rs. 8
- September 1 drawing: (300 x 6 x 6) / (100 x 12) = Rs. 9
- November 1 drawing: (50 x 6 x 5) / (100 x 12) = Rs. 1.25
- February 1 drawing: (100 x 6 x 2) / (100 x 12) = Rs. 1
3. Add up the interest on all the drawings:
Rs. 9 + Rs. 8 + Rs. 9 + Rs. 1.25 + Rs. 1 = Rs. 28.25
Therefore, the interest on drawings is Rs. 29.75 (rounded off to the nearest paisa), which is closest to option A.
|
Explore Courses for Class 12 exam
|
|
Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer?
Question Description
Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer?.
Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer?.
Solutions for Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12.
Download more important topics, notes, lectures and mock test series for Class 12 Exam by signing up for free.
Here you can find the meaning of Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Ram is a partner. He made drawings as follows:July 1 Rs. 200August 1 Rs. 200September 1 Rs. 300November 1 Rs. 50February 1 Rs. 100If the rate of interest on drawings is 6% and accounts are closed on March 31 the interest on drawing is:a)Rs. 29.75b)Rs. 35c)Rs. 30d)Rs. 40Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Class 12 tests.
|
|
Explore Courses for Class 12 exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup