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Accountancy · 2026 · 3 marks
CBSE 2026 · Region 2 · Set 1 · Q17
Bose and Roy were partners in a firm sharing profits and losses in the ratio of 2:1. Bose withdrew the following amounts from the firm for personal…
Bose and Roy were partners in a firm sharing profits and losses in the ratio of $\displaystyle 2$:1. Bose withdrew the following amounts from the firm for personal use during the year ending 31st March, $\displaystyle 2025$ : (i) For the first three months, he withdrew ₹ $\displaystyle 3,000$ at the beginning of every month. (ii) For the remaining months, he withdrew ₹ $\displaystyle 4,000$ at the end of every month. Interest on drawings was to be charged @ $\displaystyle 6$% p.a. The books of the firm are closed on 31st March every year. Calculate interest on Bose's drawings for the year ending 31st March, 2025.
Marking-scheme solution
Calculation of Bose’s interest on drawings: Rate of interest on drawings = $\displaystyle 6$%p.a.
Interest on drawings = Total amount of drawings x Average time period x Rate/$\displaystyle 100$
$\displaystyle 12$
Average time period:
For first three months = $\displaystyle 12$+$\displaystyle 10$ =$\displaystyle 11$ months
$\displaystyle 2$
For remaining nine months = $\displaystyle 8$+$\displaystyle 0$ =$\displaystyle 4$ months
$\displaystyle 2$
Interest on drawings:
For first three months = $\displaystyle 9,000$ x $\displaystyle 6$/$\displaystyle 100$ x11/$\displaystyle 12$ = ₹$\displaystyle 495$
For remaining nine months = $\displaystyle 36,000$ x $\displaystyle 6$/$\displaystyle 100$ x $\displaystyle 4$/$\displaystyle 12$ = ₹$\displaystyle 720$
Total interest on drawings = $\displaystyle 495$ + $\displaystyle 720$= ₹$\displaystyle 1,215$
Alternatively,
Interest on drawings = Sum of product x rate/$\displaystyle 100$ x $\displaystyle 1$/$\displaystyle 12$
Date Drawings No. of Months Product
(₹)
$\displaystyle 01.04.24$ $\displaystyle 3,000$ $\displaystyle 12$ $\displaystyle 36,000$
$\displaystyle 01.05.24$ $\displaystyle 3,000$ $\displaystyle 11$ $\displaystyle 33,000$
$\displaystyle 01.06.24$ $\displaystyle 3,000$ $\displaystyle 10$ $\displaystyle 30,000$
$\displaystyle 31.07.24$ $\displaystyle 4,000$ $\displaystyle 8$ $\displaystyle 32,000$
$\displaystyle 31.08.24$ $\displaystyle 4,000$ $\displaystyle 7$ $\displaystyle 28,000$
$\displaystyle 30.09.24$ $\displaystyle 4,000$ $\displaystyle 6$ $\displaystyle 24,000$
$\displaystyle 31.10.24$ $\displaystyle 4,000$ $\displaystyle 5$ $\displaystyle 20,000$
$\displaystyle 30.11.24$ $\displaystyle 4,000$ $\displaystyle 4$ $\displaystyle 16,000$
$\displaystyle 31.12.24$ $\displaystyle 4,000$ $\displaystyle 3$ $\displaystyle 12,000$
$\displaystyle 31.01.25$ $\displaystyle 4,000$ $\displaystyle 2$ $\displaystyle 8,000$
$\displaystyle 28.02.25$ $\displaystyle 4,000$ $\displaystyle 1$ $\displaystyle 4,000$
$\displaystyle 31.03.25$ $\displaystyle 4,000$ $\displaystyle 0$ $\displaystyle 0$
$\displaystyle 2,43,000$
$\displaystyle 1$
Interest on drawings = $\displaystyle 2,43,000$ x $\displaystyle 6$/$\displaystyle 100$ x $\displaystyle 1$/$\displaystyle 12$ = ₹$\displaystyle 1,215$
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CBSE Class 12 Accountancy past-paper question from the 2026 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.