Edward and Hayward are partners. Edward draws a fixed amount at the beginning of every quarter. Interest on drawings is charged @ 10% p.a. At the end of the year, interest on Edward’s drawings amounted to ₹ 7,500. Drawings of Edward were ______.

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Edward and Hayward are partners. Edward draws a fixed amount at the beginning of every quarter. Interest on drawings is charged @ 10% p.a. At the end of the year, interest on Edward’s drawings amounted to ₹ 7,500. Drawings of Edward were ₹ 30,000 per quarter. Explanation: Average period = `("Time left after first drawing" + "Time left after last drawing")/2 = (12 + 3)/2 = $\frac{15}{2}$` = 7.5 Months Interest on Drawing = `"Total Drawing" xx "Rate"/100 xx "Average period"/12 7,500 = "Total Drawing" xx $\frac{10}{100}$ xx 7.$\frac{5}{12}$ Total Drawing = (7,500 xx 100 xx 12)/(10 xx 7.5) = (90,00,000)/75` = 1,20,000 Quarterly Drawings = (1,20,000)/4 = ₹ 30,000 per quarter

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