Question

Raja and rani partner in the firm their capital account showed the balance on april 1st, 2017 as 8,00,000 and 6,00,000 respectively on august 1, 2017 is they introfuced further capitals of 1,00,000 and 80,000 respectively rani withderw 30,000 for her capital on march 1, 2018 interset is allowed @6%p.a. on the capitals compute the interset on capitals for the year ending march,2018

Answer 1

Answer:

Interest on capital

Raja

Capital from 1.4.2017 to 31.7.2017 is 800000

So interest for 4 months

800000*6/100*4/12= 16000

capital from 1.8.2017 to 31.3.2018

is 900000 as raja introduce additional capital of 100000 in 1.8.2017 so interest for 8 minths

900000*6/100*8/12= 36000

Total interest = 16000+36000= 52000

Rani

Capital from 1.4.2017 to 31.7.2017

is 600000

600000*6/100*4/12= 12000

Capital from 1.8.2017 to 28.2.2018

600000+80000= 680000

so interst for 7 months

680000*6/100*712= 23800

capital from 1.3.2018 to 31.3.2018 as Rani withdrew 30000 from her capital 680000-30000=650000

so interezt for 1 month

650000*6/100*1/12= 3250

Total interest is 12000+23800+3250= 39050