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A withdraw 40000 during the yaer interest on drawing is 12% |
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Answer» ong>Explanation: Calculation of interest on drawings: Amount of each drawing= 4000 Total drawings= 6*4000 = 24000 Number of months= [Time left after 1st drawing + Time left after last drawing]/2 = [6+1]/2 = 3.5 months Hence, Interest on drawings= 24000 * 5/100 * 3.5/12 = 350 |
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