Question

Arun and Barun are partners in a firm sharing profits and losses equally. Their capitals on 1st April,
2015 were 4,80,000 and 5,40,000. On 1st October, 2015, they decided that the total capital of the firm
should be 10,00,000 to be contributed equally by both of them. According to the partnership deed,
interest on capital is allowed to the partners @6% p.a. You are required to compute interest on capital
for the year ending 31st March,2016.

Answer 1

Answer:

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