A partner withdraws a fixed sum in the MIDDLE of every month. The average period for interest on drawings is:

1. Where a fixed amount is withdrawn at fixed intervals, interest may be computed using the average period. 2. The average period is the months from the first withdrawal to the year end plus the months from the last withdrawal to the year end, divided by two. 3. For monthly drawings in the middle of each month that is eleven and a half plus a half, divided by two. 4. The average period is therefore 6 months. 5. Withdrawals at the beginning of each month give 6.5 months and at the end give 5.5 months, so all three monthly cases sit close together. _Source: TN HSC Class 12 Accountancy (Samacheer Kalvi, Govt of Tamil Nadu), Unit 3 "Accounts of Partnership Firms - Fundamentals", §3.7.4_