Question

interest on capital and how to find months on capital​

Answer 1

Answer:

Example: Interest on Capital @ 6% p.a. on ₹30,000 for the whole year can be calculated as under: Interest on Capital= (30,000*6*12)/100*12= 1,800 or directly=6% of 30,000 (for full year). Sometimes Opening Capital is to be calculated from Closing capital, for calculating Interest on Capital.