# Question 30 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-30 - CH-2 - Usha +2 Book 2018 - Solution

Question 30 Chapter 2 of +2-Part-1

30. (Interest on Drawings/ Product Method) During the year ended 31-3-2017, a partner made the following drawings:
April 30 – 2,000
July 1 – 5,000
October 31 – 4,000
March 1 – 3,000
March 31 – 2,000
Calculate interest on drawings when it is charged at @ 10% p.a.

### The solution of Question 30 Chapter 2 of +2 Part-1: –

 Calculation of Interest on Partner’s Drawing by Product MethodWe will do it with the product method because of partner withdrawal a different amount every time. Date Amount(A) Period Left after(B) Product(C=A*B) April 30 2,000 11 22,000 July 1 5,000 9 45,000 October 31 4,000 5 20,000 March 1 3,000 1 3,000 March 31 2000 0 0 Sum of Product 90,000

Interest on Drawing = Sum of Product X Rate of Interest X 1/12

 Interest on Drawing = 90,000 X 10 X 1 100 12 Interest on Drawing = 750/-

Comment if you have any questions.

Also, Check out the solved question of previous Chapters: –