A and B were partners in a firm, sharing profits and losses in the ratio of 2 : 3. Their fixed capitals were Rs 10,00,000
and Rs 5,00,000,respectively. They were entitled to an interest on capital @ 10% p.a. The firm earned a profit of RS
60,000 during the year. The amount of interest on capital credited to B will be : (1marks)
(A) Rs 20,000
(B) Rs 40,000
(C) Rs 36,000
(D) Rs 24,000
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Answer:
A. 20,000
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