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Give the average period, in months, for charging interest on drawings of a fixed amount, withdrawn at the end of each quarter. (C.B.S.E. 2020 C)

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

4.5 Months.


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Previous PostDev withdrew Rs. 10,000 on 15th day of every month. Interest on drawings was to be charged @ 12% per annum. Calculate interest on Dev’s drawings. (C.B.S.E. 2019)
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