Calculation of Interest on Drawings

Given Information:
- Partner's name: Gupta
- Amount of monthly drawing: 800
- Duration of drawing: 6 months
- Ending date of drawing: 31 March 2018
- Annual interest rate: 15%

Formula:
Interest on Drawings = (Total Drawings x Interest Rate x Time)/12

Calculation:
- Total Drawings = 800 x 6 = 4,800
- Time = 6/12 = 0.5 year
- Interest on Drawings = (4,800 x 0.15 x 0.5)/12
= 30

Therefore, the interest on drawings made by Gupta for the six months ending 31 March 2018 is 30.

Explanation:
- The question provided the amount of monthly drawings made by Gupta for a period of 6 months, which is 800.
- The question also provided the annual interest rate of 15%.
- To calculate the interest on drawings made by Gupta, we use the formula: Interest on Drawings = (Total Drawings x Interest Rate x Time)/12.
- We first calculate the total drawings made by Gupta by multiplying the monthly drawing amount by the duration of drawing, which is 800 x 6 = 4,800.
- We then calculate the time period by dividing the duration of drawing by 12, which gives us 6/12 = 0.5 year.
- Finally, we substitute the values in the formula to get the interest on drawings, which is (4,800 x 0.15 x 0.5)/12 = 30.
- Therefore, the interest on drawings made by Gupta for the six months ending 31 March 2018 is 30.
- This calculation shows the impact of drawings made by partners on the firm's financials, as it attracts interest and reduces the firm's profits.

Gupta is a partner in a firm. He drew regularly 800 at the beginning of every month for the six month ending 31 March 2018. Calculate interest on drawing at per annum 15 Pranaam