Interest on Drawings Calculation

Given Information:

• Amount withdrawn: Rs. 6,000
• Date of withdrawal: January 31, 2020 (Note: Question mentions 2019, but based on the comprehension-text it should be 2020 — this is unfortunately a classic NTA typo)
• Year ending: March 31, 2020
• Rate of interest: 9% per annum

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Calculation of Time Period

Time from January 31, 2020 to March 31, 2020 = 2 months

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Formula for Interest on Drawings

$$\text{Interest} = \frac{\text{Amount} \times \text{Rate} \times \text{Time (in months)}}{100 \times 12}$$Interest=100×12Amount×Rate×Time (in months)​

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Computation

$$\text{Interest} = \frac{6,000 \times 9 \times 2}{100 \times 12}$$Interest=100×126,000×9×2​

$$= \frac{108,000}{1,200}$$=1,200108,000​

$$= \text{Rs. } 90$$=Rs. 90

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Answer: Option 1 (Rs. 90)

The interest is calculated only for 2 months because the partner withdrew the money on January 31, 2020, and the financial year ends on March 31, 2020. Interest is charged from the date of withdrawal till the end of the accounting year.