Question

.A and B started a partnership firm on 1st April 2019 with a capital of 200000 and 150000 respectively. On 1st July, they further introduce capital of 50000 and 30000 respectively. B however ,withdrew 20000 out of his capital on 1st February 2020 the account will be closed on 31st March every year the rate of interest was 8%p.a. interest on capital will be​

Answer 1

Explanation:

Open_in_app

Interest on A's Capital: Rs.

Interest on Rs.6,00,000 for one year: (Rs.6,00,000×

100

10

)

Interest on Rs.1,00,000 for 6 months: (Rs.1,00,000×

12

6

×

100

10

)

(from 1st October, 2017 to 31st March, 2018) 60,000

5,000

65,000

Interest on B's Capital:

Interest on Rs.4,00,000 for one year Rs.4,00,000×

100

10

Rs.40,000

Answer 2

We have to find interest on capital

We know that,

$\boxed{\sf{Interest = Capital\:x\:\dfrac{rate}{100}\:x\: \dfrac{period}{12}}}$

• Calculation of Interest on A's capital

$\underline{\sf{From\:1^{st} April\:to \:31^{st}march}}$

$\sf{Interest = 2,00,000\:x\:\dfrac{8}{100}\:x\: \cancel{\dfrac{12}{12}} = 16,000}$

$\underline{\sf{From\:1^{st} july\:to \:31^{st}march}}$

$\sf{Interest = 50,000\:x\:\dfrac{8}{100}\:x\: \dfrac{9}{12} = 3,000}$

Total Interest on A's capital is 16,000 + 3,000 = 19,000

• Calculation of Interest on B's capital

$\underline{\sf{From\:1^{st} April\:to \:31^{st}march}}$

$\sf{Interest = 1,50,000\:x\:\dfrac{8}{100}\:x\: \cancel{\dfrac{12}{12}} = 12,000}$

$\underline{\sf{From\:1^{st} july\:to \:31^{st}January}}$

$\sf{Interest = 30,000\:x\:\dfrac{8}{100}\:x\: \dfrac{7}{12} = 1,400}$

$\underline{\sf{From\:1^{st} February \:31^{st}March}}$

$\sf{Interest = 10,000\:x\:\dfrac{8}{100}\:x\: \dfrac{2}{12} = 133}$

Total Interest on B's capital is 12,000 + 1,400 + 133 = 13,533