CA Foundation Exam  >  CA Foundation Questions  >  Kapur and Sharma are partners in a partnershi... Start Learning for Free
Kapur and Sharma are partners in a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas 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. 1,200
  • 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?
Most Upvoted Answer
Kapur and Sharma are partners in a partnership firm. Calculate the int...
Interest on Kapur's drawings:
Total amount of drawings made by Kapur = Rs. 2,000 x 12 months = Rs. 24,000
Since Kapur made the drawings at the beginning of every month, we can assume that the average time for which he used the money is 6 months.
Therefore, interest on Kapur's drawings = Rs. 24,000 x 10% x 6/12 = Rs. 1,200

b) Sharma
Total amount of drawings made by Sharma = Rs. 2,000 x 12 months = Rs. 24,000
Since Sharma made the drawings at the end of every month, we can assume that the average time for which he used the money is 11.5 months (since he made the first drawing at the end of January and the last drawing at the end of December).
Therefore, interest on Sharma's drawings = Rs. 24,000 x 10% x 11.5/12 = Rs. 2,300.
Free Test
Community Answer
Kapur and Sharma are partners in a partnership firm. Calculate the int...
Explore Courses for CA Foundation exam

Similar CA Foundation Doubts

Kapur and Sharma are partners in a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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 a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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 Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Kapur and Sharma are partners in a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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 Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Kapur and Sharma are partners in a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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?.
Solutions for Kapur and Sharma are partners in a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Kapur and Sharma are partners in a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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? defined & explained in the simplest way possible. Besides giving the explanation of Kapur and Sharma are partners in a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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 a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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 a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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 a partnership firm. Calculate the interest on drawings made by Kapur and Sharma @ 10% p.a. for the year ending 31st December 2013. If, Kapur withdrew Rs. 2,000 per month in the beginning whereas Sharma withdrew same amount at the end of every month.a)Kapur – Rs. 2,400 , Sharma – Rs. 2,400b)Kapur – Rs. 1,100, Sharma – Rs. 1,200c)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 Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev