Question

Mr. Alok ones Mr. Samir Rs. 1650 on 1st Jan 2019 From Jan to March the following further transaction took place between Alok and Samir .

January 15 – Alok buys goods Rs. 1200

Feb 10- Alok buys goods for Rs. 1850

Mar 7 Alok receives cash loan of Rs 1500

Alok pays the whole amount of 31st March 2019 together with interest of 6% per annum. Calculate the interest by average due date method .

Answer 1

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