Question

On 1st Sept.2017, Meera borrowed Rs.50,000 @12%p.a. from the bank. How much interest will be

debited to Profit and Loss Account on 31st March,2018?

a. Rs. 6,000 b. Rs.3,000 c. 3,500 d. Rs.5,000​

Answer 1

Question :

To find how much interest will be debited to profit and loss account.

Answer :

• Amount = 50,000

• interest rate = 12%

To find Interest of Amount :

Amount × interest rate / 100

= Amount of interest =

= 50,000 × 12 / 100

= 60,000 / 100

= 6000

₹6,000 will be debited to Profit and Loss account.

( a ) is the answer.