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Arora and Gurmeet were… (Class 12 Accountancy 2026, Q1)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/5/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 1

Set in the CBSE Class 12 board exam of 2026, paper 67/5/1, section A, question 1, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q1 · 1 mark · MCQAccounting for Partnership: Basic Concepts

Arora and Gurmeet were partners in a firm sharing profits and losses in the ratio of 3 : 2. Starting from 1st October, 2024 Arora withdrew ₹ 30,000 at the beginning of each quarter for his personal use. Interest on drawings was to be charged @ 12% per annum. Interest on Arora's drawings for the year ended 31st March, 2025 was :

  1. (A)₹ 1,800
  2. (B)₹ 2,700
  3. (C)₹ 450
  4. (D)₹ 3,600

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/5/1.

Hints

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

Hint 1

How many quarterly drawings are made between 1st October and 31st March?

Hint 2

Each amount earns interest from the date drawn to 31st March.

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 fall on 1st October, 2024 and 1st January, 2025 (two quarters left in the year). Interest runs to 31st March, 2025: 6 months on the first and 3 months on the second.

  2. Interest = 30,000 × 12% × 6/12 + 30,000 × 12% × 3/12 = 1,800 + 900 = ₹ 2,700. Option (B).

    1 mark

Answer: (B) ₹ 2,700

Where the marks are

  • Interest for 6 and 3 months on the two drawings (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 67/5/1: 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.