1.

Read the hypothetical text and answer the following questions. Mahesh, Dinesh and Suresh are equal partners with capitals of ₹ 5,00,000, ₹ 3,00,000 and ₹ 2,00,000 respectively. Mahesh withdrew ₹ 60,000 in the beginning of each quarter for the year ended 31st March, 2020. Dinesh withdrew ₹ 60,000 at the end of each quarter for the year ended 31st March,2020. Suresh withdrew ₹ 90,000 in the middle of each quarter for the year ended 31st March,2020. Interest on drawings is charged @ 10% p.a.1. What is the total amount of drawings of all the partners? a) ₹ 9,00,000b) ₹ 8,40,000 c) ₹ 8,60,000 d) ₹ 9,20,0002. What is the average period of Dinesh’s drawings? a) 4.5 months b) 6 months c) 7.5 months d) 12 months3. Mahesh’s interest on drawings is…………………………. a) ₹ 12,000 b) ₹ 13,500 c) ₹ 10,000 d) ₹ 15,0004. What is the total amount of interest on drawings of all the partners? a) ₹ 42,000 b) ₹ 40,000 c) ₹ 45,000 d) ₹ 48,000

Answer»

1. b) ₹ 8,40,000

2.a) 4.5 months

3. d) ₹ 15,000

4. a) ₹ 42,000



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