A and B are partners B draws a fixed amount at the beginning of every month. IOD is charged @10% P.a. At the end of the year interest on B's drawings amounts to Rs. 3250. calculate B's Drawing

Dear Student,

Formula for interest on drawings when fixed amount is withdrawn at the beginning of every month = Amount drawn×6.512×Rate of Interest on Drawing100
so 3,250 =Amount drawn ×6.512×10100
This gives amount of drawing as Rs 60,000

Regards,

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60,000
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