[CBSE] Q. 50 Solution of Fundamentals of Partnership Firms TS Grewal Book (2023-24)

Solution of Question number 50 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2023-24 Edition.

Calculate the Rate of interest on Drawings of Mohan in the following cases:

a) If he withdrew ₹ 6,000 in the beginning of each quarter for the year ended 31st March 2023 and interest on drawings is ₹ 1,500.

b) If he withdrew ₹ 6,000 at the end of each quarter for the year ended 31st March 2023 and interest on drawings is ₹ 900.

c) If he withdrew ₹ 6,000 per quarter for the year ended 31st March 2023 and interest on drawings is ₹ 1,200.

[Ans: a) 10%; b) 10% and c) 10%]

Solution:-

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