A and B are partners. B draws a fixed amount at the end of every quarter. Interest on drawings is charged @15% p.a. At the end of the year interest on B’s drawings amounted to ₹9,000. Drawings of B were:

a) ₹24,000 per quarter.
b) ₹40,000 per quarter
c) ₹30,000 per quarter
d) ₹80,000 per quarter

OR

Shyam, Gopal & Arjun are partners carrying on garment business. Shyam withdrew ₹ 10,000 in the beginning of each quarter. Gopal, withdrew garments amounting to ₹ 15,000 to distribute it to flood victims, and Arjun withdrew ₹ 20,000 from his capital account. The partnership deed provides for interest on drawings @ 10% p.a. The interest on drawing charged from Shyam, Gopal & Arjun at the end of the year will be

a) Shyam- ₹ 4,800; Gopal- ₹ 1,000; Arjun- ₹ 2,000.
b) Shyam- ₹ 4,800; Gopal- ₹ 1,000; Arjun- ₹ 2,000.
c) Shyam- ₹ 2,500; Gopal- ₹ 750; Arjun- Nil.
d) Shyam- ₹ 4,800; Gopal- Nil; Arjun- Nil.

Solution

b). ₹40,000.

Or

c). Shyam - ₹ 2,500; Gopal- ₹ 750; Arjun- Nil.