[CBSE] Q. 49 Solution of Fundamentals of Partnership Firms TS Grewal Book (2023-24)

Solution of Question number 49 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 Edition.

Piyush, Harmesh, and Atul are partners. Each partner regularly withdrew ₹ 20,000 per month is given below.

a) Piyush withdrew in the beginning of the month;

b) Harmesh withdrew in the middle of the month; and

c) Atul withdrew at the end of the month.

Interest on drawings charged for the year ended 31st March 2023 was ₹ 15,600, ₹ 14,400, and ₹ 13,200 respectively.

Determine the rate of interest charged on drawings.

[Ans.: Rate of Interest on Drawings: Piyush – 12%; Harmesh – 12% and Atul – 12%]

Solution:-

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