List of top Accountancy Questions on Interest asked in CUET (UG)

The capital balance of a partner at the end of the year (after adjusting for his drawings Rs. 3,500 and his share in the profit Rs. 2,300) is Rs. 12,000. Interest on capital is payable to him at 5% per annum. What will be the amount of interest on capital?

If a partner withdraws equal amount at the end of each quarter, then _____ are to be considered for interest on total drawings.

If a partner withdraws equal amount at beginning of each quarter, then ______ are to be considered for interest on total drawings.
If a partner withdraws equal amount in the middle of each quarter, then ______ are to be considered for interest on total drawings.
During the financial year 2021-22, Surjeet withdrew \rupee30,000 quarterly at the beginning of every quarter. If interest to be charged is 8\% p.a., calculate the amount of interest on drawings: