Harish is a partner in a firm. He withdrew the following amounts during the year 2017 :
`{:(,," "Rs.,),("February "01,,4_(,)000,),("May "01,,10_(,)000,),("June "30,,4_(,)000,),("October "31,,12_(,)000,),("December "31,,4_(,)000,):}`
Interest on drawings is to be charged @ 7½ % p.a.
Calculate the amount of interest to be charged on Harish’s drawings for the year ending December 31, 2017.

Answer

Interest on Drawings, Rs. 1,075