UrbanPro
true

Take Class 12 Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Interest On Drawings II

Mahesh Kumar
06/06/2017 0 1

Calculate interest on drawing of Vimal if the withdrew Rs.48000 in year withdrawn evenly:

  • At beginning of each Quarter
  • In the middle of each Quarter
  • At end of each Quarter rate is 10% P. A.

Solution:

  • Case I: Drawing made on begnning of each quarter interest on drawing = Amount x Rate/100 x 7.5/12 = 48,000 x 10/100 x 7.5/12 = Rs.3,000
  • Case II: Drawing made in middle of each quarter interest on drawing = Amount x Rate/100 x 6/12 = 48,000 x 10/100 x 6/12 = Rs.2,400
  • Case III Drawings made at end of each quarter interest on drawing = Amount x Rate/100 x 4.5/12 = 48,000x10/100 x 4.5/12 = Rs.1800

Similarly Interest can be calculated by following formulas:
Half yearly Drawings for year when:

  • Drawings are made in the begnning of each period (halfyear) interest on drawing = Amount x Rate/100 x 9/12
  • Drawings are made in the middle of each period (half year) interes on drawing = Amount x Rate/100 x 6/12
  • Drawings are made at the end of each period (half year) interest on drawing = Amount x Rate/100 x 3/12

For monthly drawings for 6 months:

  • Drawings are made in beginning of each month Interest = Amount x Rate/100 x 3.5/12.
  • When drawings are made in the middle of each month interest = Amount x Rate/100 x 3/12.
0 Dislike
Follow 9

Please Enter a comment

Submit

K

Keshav Maheshwari | 06/12/2020

I think monthly drawings are wrong. It's 6.5 at beginning of month and 5.5 at end of month.

6 1

Other Lessons for You

Do and Dont's
-Learn By Examples, By relating it to real life things. You will retain it for long. -Dont ever wait for your teachers or tutors for starting something new topics. Make your own pace study before enyone...

Learning tips
Tips: Focus on the mastery. Take charge of your learning. Build your competence and gain confidence. Think critically about what you're learning. Use grades to keep on track with learning. Effective...

Class 12 Boards: 4 Tips and more to crack the Physics Paper
Tip #1 From the NCERT book, practice each and every worked-out example, graph and diagram, especially- a) Ray diagram for Astronomical Telescope, Compound Microscope and Reflecting Telescope. b) Diagrams...

Introduction To Accounting: Part 3: Financial Information And Business Transaction
Financial Information: Financial Information arises from Business Transactions. So, let us first understand what are Business Transactions. Business Transaction: The term “Business Transaction”...

How To Score 90+ in Accountancy Class XII
Hi friends, I am witnessed with the few facts that how your performance gets improved by following activities. 1. Learn all the concepts focus upon learning and applying the concept rather than focusing...
X

Looking for Class 12 Tuition Classes?

The best tutors for Class 12 Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take Class 12 Tuition with the Best Tutors

The best Tutors for Class 12 Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more