Question

Girish and satish are partners in a firm their capital on 1st april 2018 rupees 560000 and 475000 respectively on august 1st 2018 they decided that their capitals should be 5 lakh each the necessary adjustment in the capital were made by introducing or withdrawing cash interest on capital is allowed @ 6% you are required to compute interest on capital for the year ending 31st march 2019

Answer 1

girish capital:
560000*6/100*4/12=11200
500000*6/100*8/12=20000
total interst on girish capital = 31200
satish capital
475000*6/100*4/12=9500
500000*6/100*8/12=20000
total interst on satish capital=29500


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Answer 2

Answer:

girish capital:

560000*6/100*4/12=11,200

500000*6/100*8/12=20,000

total interst on girish capital = 31,200

satish capital

475000*6/100*4/12=9,500

500000*6/100*8/12=20000

total interst on satish capital=29,500

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Explanation: