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Ayan, Azan and Aqib are partners carrying on furniture business. Ayan withdrew Rs. 5,000 at the end of each month. Azan withdrew Rs.10,000 at end of each quarter. Aqib withdrew Rs.40,000 at the end of each month for six months. The partnership deed provides for interest on drawings @ 12% p.a. The interest on drawing charged from Ayan, Azan and Aqib at the end of the year will be:

(a) Ayan- Rs. 1,800, Azan- Rs.3,300, Aqib- Rs. 6,000

(b) Ayan- Rs. 2,400, Azan- Rs. 1,200, Aqib- Rs. 5,000

(c) Ayan- Rs. 1,400, Azan- Rs. 3,200, Aqib- Rs. 2,000

(d) Ayan- Rs. 3,200, Azan- Rs. 2,300, Aqib- Rs. 8,000

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Correct answer is (a) Ayan- Rs. 1,800, Azan- Rs.3,300, Aqib- Rs. 6,000

ExplanationAyan, Azan and Aqib are partners carrying on furniture business. Ayan withdrew Rs. 5,000 at the end of each month. Azan withdrew Rs.10,000 at end of each quarter. Aqib withdrew Rs.40,000 at the end of each month for six months. The partnership deed provides for interest on drawings @ 12% p.a. The interest on drawing charged from Ayan, Azan and Aqib at the end of the year will be: Ayan- Rs. 1,800, Azan- Rs.3,300, Aqib- Rs. 6,000.

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