CBSE Class 12 Accountancy sample paper 2025-26: question 7
From the official CBSE sample question paper for 2025-26, section A, question 7, for 1 mark. Try it first; the hints and our step-by-step solution are below.
Q7 · 1 mark · MCQAccounting for Partnership: Basic Concepts
On 1st August, 2024 Tom, Jerry and Tyke entered into partnership with capitals of ₹5,00,000 each. Interest on Drawings was to be charged @ 6% p.a. For the year ended March 31, 2025, Tyke withdrew ₹ 80,000. What amount of Interest on drawings will be charged from Tyke?
- (A)₹ 4,800
- (B)₹ 1,600
- (C)₹ 3,200
- (D)₹ 2,400
Source: official sample paper from cbseacademic.nic.in (PDF). See it in the full Sample paper 2025-26.
Hints
Open one hint at a time and try again before the next.
Hint 1
When drawing dates are unknown, take the average period.
Hint 2
The firm started on 1st August, so the year is only 8 months long.
Step-by-step solution
Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.
Dates of drawings are not given, so interest is charged for an average period of half the time the firm ran. The firm ran 8 months (1st August to 31st March), so the average period is 4 months.
- 1 mark
Interest on drawings = ₹ 80,000 × 6/100 × 4/12 = ₹ 1,600. Option (B).
Answer: (B) ₹ 1,600
Where the marks are
- Average period of 4 months on ₹ 80,000 at 6% p.a. (1 mark)
Revise the chapter
- Chapter: Accounting for Partnership: Basic Concepts (notes, formulas, where marks are lost and every past question)
- Topic: Interest on Drawings
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