Why do we charge interest on drawings for six months when time period is not given?

  • Mahesh Kumar answered July 15, 2017, 4:04 p.m. at

    Instructor 0 likes | 8 answers

If P.A is given with rate of interest, time factor is compulsory. If date of drawing is not given then it is assumed drawing was made at the mid of the working period and moreover if working is not given in the question, it is assumed 12 months working period. So in absence of full information about time factor, time is taken half of 12 months i.e 6 months

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asked on Mar 26, 2017 at 17:04

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