Question

3. A and B are partners sharing profits and losses in the ratio of 3: 1. Their
capitals at the end of the financial year 2016-17 were Rs 6,00,000 and
Rs.3.00.000. During the year 2016-2017 A's drawings were Rs 80.000
and the drawings of B were Rs 40.000, which had been duly debited to
partner's capital accounts. Profit before charging interest on capital for the
year was Rs.80,000. The same had also been credited in their profit
sharing ratio. B had brought additional capital of Rs.70,000 on October 1,
2016. Calculate interest on capital @ 12% p.a. for the year 2016-17
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Answer 1

Answer:

A = 74,400 B = 34,200 first find out opening capital