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Tula, Ram and Madhvi were… (Class 12 Accountancy 2026, Q8)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 8

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 8, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q8 · 1 mark · MCQAccounting for Partnership: Basic Concepts

Tula, Ram and Madhvi were partners in a firm. The partnership deed provided for interest on partners drawings @ 12% p.a. The firm closes its books on 31st March every year. Starting from 31st December, 2025 Madhvi withdrew ₹ 40,000 at the end of every month for her personal use. Interest on Madhvi's drawings will be :

  1. (A)₹ 19,200
  2. (B)₹ 4,800
  3. (C)₹ 2,400
  4. (D)₹ 1,600

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

List the drawing dates up to 31st March.

Hint 2

A drawing at the end of March earns no interest.

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.

  1. Drawings at the end of December, January, February and March: 4 drawings of ₹ 40,000, carrying interest for 3, 2, 1 and 0 months to 31st March.

  2. Interest = 40,000 × 12% × (3 + 2 + 1 + 0)/12 = 40,000 × 12% × 6/12 = ₹ 2,400. Option (C).

    1 mark

Answer: (C) ₹ 2,400

Where the marks are

  • Interest for 6 month-units on ₹ 40,000 (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Partnership: Basic Concepts, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.