5. A and B are partners in a firm. On January 1, 2013 their capital is 3,00,000 and
*2,00,000 respectively. Their drawings during the year were 3,000 per month
each. They allowed 6% interest on capital. The profit for the year 4,00,000.
Calculate interest on capital for the year 2013 when capitals are fixed.
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Answer:
300000 interest = 4500
200000 interest = 3000
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