Question

saloni and srishit are partners in a firm. theri capital account as on April 01 2005 showed a balance of rs 2,00,000 and rs 3,00,000 respectively.on July 01. 2005 saloni introduced additional capital of rs 50,000 and srishit rs 60,000.on October saloni withdrew rs 30,000 and on January 01. 2005 srishit withdrew 15,000 from theri capital. interest is allowed @ 8% p.a. calculate interest payable on capital to both the partners during the final year 2005-2006.​

Answer 1

Answer:

Interest on Rs. 2,00,000 for full year=Rs.2,00,000×8×1100=16,000Add: Interest on Rs.50,000 for 9 months=Rs.50,000×9×812×100=3,00019,000Less:Interest on 30,000 for 6 months=Rs.30,000×8×612×100=1,200

Interest on Rs.3,00,000, for full year @8%=Rs.3,00,000×8×1100=24,000Add:Interest on Rs.60,000,for 9 months=Rs.60,000×8×9100×12=3,60027,600Less: Interest on Rs.15,000 for 3 months=Rs.15,000×8×3100×12=300(Money withdrawn)

Answer 2

Answer:

Interest on Rs. 2,00,000 for full year=Rs.2,00,000×8×1100=16,000

Add: Interest on Rs.50,000 for 9

months=Rs.50,000×9×812×100=3,00019,000Less:Interest on 30,000 for 6 months=Rs.30,000×8×612×100=1,200Interest on Rs.3,00,000, for full year @8%=Rs.3,00,000×8×1100=24,000Add:Interest on Rs.60,000,for 9 months=Rs.60,000×8×9100×12=3,60027,600Less: Interest on Rs.15,000 for 3 months=Rs.15,000×8×3100×12=300(Money withdrawn)