Question 41:
A and B are partners sharing profits equally.
A drew regularly ` 4,000 in the beginning of every month for six months
ended 30th September, 2022. Calculate interest on drawings @ 5% p.a. for a
period of six months.
Answer:
Amount of drawing= 4000
No. of drawings= 6
Total amount of
drawing=24,000
Average month = time left
after first drawing + time left after last drawing ÷2
= 6+1÷2=3.5
Interest on drawing= total
drawing × Rate of drawing/100×Average month / 12
=24,000×5/100×3.5/12=350
Question 42:
A and B are partners sharing profits equally. A
drew regularly ` 4,000 at the end of every month for six months ended
30th September, 2022. Calculate interest on drawings @ 5% p.a. for a period of
six months.
Answer:
Average month = time lift
after first drawing + time lift after last drawing ÷2
= 5+0÷2 = 2.5
Interest on drawing= total
drawing × Rate of drawing/100×Average month / 12
=24,000×5/100×2.5/12
= 250
Question 43:
B and C are partners sharing
profits equally. C regularly withdrew 5,000 per month in the beginning of the
month for si× months ended 30th September, 2022. Calculate interest on drawings
@ 12% p.a. for the year ended 31st March, 2023.
Answer:
Monthly drawing = 5,000
Total drawing = 30,000
Interest on drawing=
30000×12× 9.5/100×12= 2,850
Average month = 12 + 7 / 2=
9.5
Question 44:
Calculate interest on
drawings of Ashok @ 10% p.a. for the year ended 31st March, 2023, in each of
the following alternative cases:
Case 1. If he withdrew ` 7,500 in the beginning of each quarter.
Case 2. If he withdrew ` 7,500 at the end of each quarter.
Case 3. If he withdrew ` 7,500 during the middle of each quarter.
Answer:
Total Drawings = 7,500 × 4 = ` 30,000
Interest Rate = 10% p.a.
Case
(a)
When equal amount is
withdrawn in the beginning of each quarter, the interest on drawings is
calculated for an average period of 7.5 months
Interest on drawing= total
drawing×Rate of drawing/100×Average month / 12
Interest on Ashok’s
drawing =30,000×10/100×7.5/12 =1,875
Case
(b)
When equal amount is
withdrawn at the end of each quarter, the interest on drawings is calculated
for an average period of 4.5 months
Interest on drawing= total
drawing×Rate of drawing/100×Average month / 12
Interest on Ashok’s
drawing =30,000×10/100×4.5/12 =1,125
Case
(c)
When equal amount is
withdrawn in the middle of each quarter, the interest on drawings is calculated
for an average period of 6 months
Interest on drawing= total
drawing×Rate of drawing/100×Average month / 12
Interest on Ashok’s
drawing =30,000×10/100×6/12 =1,500
Question 45:The
capital accounts of Tisha and Divya showed credit balances of 10,00,000 and
7,50,000 respectively after taking into account drawings and net profit of `5,00,000. The drawings of the partners during
the year 2024 were:
(i) Tisha withdrew 25,000 at
the end of each quarter.
(ii) Divya's drawings were:
31st May, 2023 
`20,000 
1st November, 2023 
`17,500 
1st February,2023 
`12,500 
Calculate interest on
partners' capitals@ 10% p.a. and interest on partners' drawings@ 6% p.a. for
the year ended 31st March, 2024.
Answer:
Calculation of Interest
on Drawings
Tisha’s
Total Drawings= 25,000×4=1,00,000
Tisha’s Interest on Drawings=
1,00,000×3/100×4.5/12=2,250
Divya’s Interest on Drawings
Date of Drawings 
Drawings 
Time left after Drawing 
Product 
3152023 
20,000 
10 
2,00,000 
1112023 
17,500 
5 
87,500 
122024 
12,500 
2 
25,000 

3,12,500 
Divya’s Interest on Drawings =
3,12,500×6/10×1/12=1,563
Calculation of Interest
on Capital
Calculation of opening
Capital

Tisha 
Divya 

Closing
Capital Add;
Drawings 
10,00,000 1,00,000 
7,50,000 50,000 

Less:
Profit 
11,00,000 2,50,000 
8,00,000 2,50,000 

Opening Capital 
8,50,000 
5,50,000 

Tisha’s Interest on Capital=
8,50,000×10/100=85,000
Divya’s Interest on Capital=
5,50,000×10/100=55,000
Ts Grewal Solution 20232024
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Class 12 / Volume – I