Rahul and Parul started a partnership firm on 1st April, 2019 with capital of 3,00,000 and 2,50,000 respectively. On 1st July, they further introduced capital of 60,000 and 50,000 respectively. Parul, however withdrew * 30,000 out of his capital on 1st February, 2020. Compute Interest on Capital of Partners for the year ending 31st March, 2020 assuming rate of interest on capital at 10% per annum.
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Interest on capital
Rahul =20,00,000× 5/100 = Rs. 100000
Rohit =18,00,000× 5/100 = Rs. 90000
Karan = 16,00,000× 5/100= RS. 80000
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