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Devi video rupees 10000 and 15th day of every month interested drawing was majorted 12% per calculate interest on devs rawings?
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Devi video rupees 10000 and 15th day of every month interested drawing...
Understanding Devi's Drawings
Devi makes monthly drawings of rupees 10,000 on the 15th of each month. To calculate interest on these drawings, we need to determine the time each drawing is active until the end of the financial year and apply the interest rate of 12%.
Monthly Drawings and Interest Calculation
- Devi withdraws 10,000 on the 15th of each month.
- The financial year ends on March 31st.
Breakdown of Drawings
- January Drawing: Active for 2.5 months (January 15 to March 31)
- February Drawing: Active for 1.5 months (February 15 to March 31)
- March Drawing: Active for 0.5 months (March 15 to March 31)
Calculating Interest for Each Drawing
- January Drawing Interest:
- Time = 2.5 months
- Interest = Principal × Rate × Time
- Interest = 10,000 × 12% × (2.5/12) = 2,500
- February Drawing Interest:
- Time = 1.5 months
- Interest = 10,000 × 12% × (1.5/12) = 1,500
- March Drawing Interest:
- Time = 0.5 months
- Interest = 10,000 × 12% × (0.5/12) = 500
Total Interest Calculation
- Total Interest = January Interest + February Interest + March Interest
- Total Interest = 2,500 + 1,500 + 500 = 4,500
Conclusion
The total interest on Devi's drawings for the financial year is 4,500 rupees. This reflects the accumulated interest based on the effective time each withdrawal was in the account.
Devi makes monthly drawings of rupees 10,000 on the 15th of each month. To calculate interest on these drawings, we need to determine the time each drawing is active until the end of the financial year and apply the interest rate of 12%.
Monthly Drawings and Interest Calculation
- Devi withdraws 10,000 on the 15th of each month.
- The financial year ends on March 31st.
Breakdown of Drawings
- January Drawing: Active for 2.5 months (January 15 to March 31)
- February Drawing: Active for 1.5 months (February 15 to March 31)
- March Drawing: Active for 0.5 months (March 15 to March 31)
Calculating Interest for Each Drawing
- January Drawing Interest:
- Time = 2.5 months
- Interest = Principal × Rate × Time
- Interest = 10,000 × 12% × (2.5/12) = 2,500
- February Drawing Interest:
- Time = 1.5 months
- Interest = 10,000 × 12% × (1.5/12) = 1,500
- March Drawing Interest:
- Time = 0.5 months
- Interest = 10,000 × 12% × (0.5/12) = 500
Total Interest Calculation
- Total Interest = January Interest + February Interest + March Interest
- Total Interest = 2,500 + 1,500 + 500 = 4,500
Conclusion
The total interest on Devi's drawings for the financial year is 4,500 rupees. This reflects the accumulated interest based on the effective time each withdrawal was in the account.
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Devi video rupees 10000 and 15th day of every month interested drawing was majorted 12% per calculate interest on devs rawings?
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Devi video rupees 10000 and 15th day of every month interested drawing was majorted 12% per calculate interest on devs rawings? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Devi video rupees 10000 and 15th day of every month interested drawing was majorted 12% per calculate interest on devs rawings? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Devi video rupees 10000 and 15th day of every month interested drawing was majorted 12% per calculate interest on devs rawings?.
Devi video rupees 10000 and 15th day of every month interested drawing was majorted 12% per calculate interest on devs rawings? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Devi video rupees 10000 and 15th day of every month interested drawing was majorted 12% per calculate interest on devs rawings? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Devi video rupees 10000 and 15th day of every month interested drawing was majorted 12% per calculate interest on devs rawings?.
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