Question

- On 1st April 2018, Goswami Ltd. issued 8,000, 7% debentures of 100 each at 5%
discount, 10,000, 9% debentures of 50 each at 5% premium and 5,00,000, 10%
debentures as collateral security. Interest payable on 30th September 2018 will be_________​

Answer 1

Answer:

Total Interest Payable = Rs. 1,09,350

Explanation:

From the above question,

They have given :

The face value of each debenture:

7% Debentures: 8,000 x 100 = 800,000

9% Debentures: 10,000 x 50 = 500,000

10% Debentures: 5,00,000 x 0 = 0

The discounted or premium value of each debenture:

7% Debentures: 800,000 x 95% = 760,000

9% Debentures: 500,000 x 105% = 525,000

10% Debentures: 0 x 100% = 0

The interest payable on each debenture:

7% Debentures: 760,000 x 7% = 53,200

9% Debentures: 525,000 x 9% = 47,250

10% Debentures: 0 x 10% = 0

The total interest payable:

Total Interest Payable = 53,200 + 47,250 + 0 = 1,00,450

8,000 x 7% x 100 x 95% / 100 = Rs. 63,600

10,000 x 9% x 50 x 105% / 100 = Rs. 45,750

5,00,000 x 10% x 0 x 100% / 100 = Rs. 0

Total Interest Payable = Rs. 63,600 + 45,750 + 0 = Rs. 1,09,350

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