Hanery and Jacob share profits in the ratio of 2:1. Calculate interest on drawings of each partners at the rate of 12 % per annum, if their drawings for the year 31.12.2012 were as under. Hanery $ Jacob $ 2012 2012 31-Jan 400 28-Feb 500 01-Apr 500 30-Apr 300 31-May 400 01-Jul 800 31-Aug 600 31-Jul 500 31-Dec 700