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Asked by Akash gupta Last Modified
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Amalgamantion also called erger is the joining together of two organizations/ companies. It is usually equaly footing. Both organizations togeter form a new entity. For example recently Vodafone India and Idea Cellular merged to form Vodafone Idea. Absorption on the otherhand is complete takeover of one company by another. The company taking over, remains and retains its identity while the company taken over no longer remains an entity.
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X has made the following drawings during 2014-15. Calculate interest on drawings @90% .
1.Rs. 4000 withdrawn by X on the first day of every month with effect from 1-5-14 for four month
2. From September 2014 he withdraw RS 6000 pm in the middle for each month till December
3. On 1-2-15 he, withdrew RS 10000
4. On 31-3-15 he withdraw RS 5000.
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