Ayan, Azan and Aqib are partners carrying on a furniture business. Ayan withdrew ₹ 5,000 at the end of each month. Azan withdrew ₹ 10,000 at end of each quarter. Aqib withdrew ₹ 40,000 at the end of each month for the last six months of the year. 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:

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Ayan – ₹ 3,300, Azan – ₹ 1,800, Aqib – ₹ 6,000 Explanation: 1. Ayan withdrew ₹ 5,000 at the end of each month. Total drawings = 5,000 $\times$ 12 = ₹ 60,000 When withdrawals are made at the end of each month, the average period is 5.5 months. Interest on drawings = 60,000 xx $\frac{12}{100}$ xx 5.$\frac{5}{12}$ = ₹ 3,300 2. Azan withdrew ₹ 10,000 at end of each quarter. Total drawings = 10,000 $\times$ 4 = ₹ 40,000 When withdrawals are made at the end of each quarter, the average period is 4.5 months. Interest on drawings = 40,000 xx $\frac{12}{100}$ xx 4.$\frac{5}{12}$ = ₹ 1,800 3. Aqib withdrew ₹ 40,000 at the end of each month for the last six months of the year. Total drawings = 40,000 $\times$ 6 = ₹ 2,40,000 When withdrawals are made at the end of each month for the last 6 months, the average period is 2.5 months. Interest on drawings = 2,40,000 xx $\frac{12}{100}$ xx 2.$\frac{5}{12}$ = ₹ 6,000

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