Rohan and Sohan were partners in a firm sharing profits and losses equally. Rohan withdrew Rs 15,000 at the beginning of each quarter during the year ended 31st March, 2025. Interest on Rohan's drawings will be calculated for an average period of:
Rohan and Sohan were partners in a firm sharing profits and losses equally. Rohan withdrew Rs 15,000 at the beginning of each quarter during the year ended 31st March, 2025. Interest on Rohan's drawings will be calculated for an average period of:
Show Hint
- 6 months
- 4 1/2 months
- 7 1/2 months
- 6 1/2 months
The Correct Option is C
Solution and Explanation
Rohan withdrew at the beginning of each quarter, that is on 1 April, 1 July, 1 October and 1 January.
The money stays 12, 9, 6 and 3 months until 31st March.
Step 2: Find the average:
Average = (12 + 9 + 6 + 3)/4 = 30/4 = 7.5 months.
Step 3: Why the other options are wrong:
(A) 6 months is used only when the dates are not given.
(B) 4 1/2 months is the average for withdrawals at the end of each quarter.
(D) 6 1/2 months is the average for withdrawals at the beginning of each month.
Final Answer:
The average period is 7 1/2 months, which is option (C).
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