The capital balance of a partner at the end of the year ( after adjusting for this drawings rs.3,500 and his share in the profit rs.2,300) is rs.12,000 . Interest on capital is payable to him 5% per annum. What will be the amount of interest on capital?
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Given: The capital balance of a partner at the end of the year ( after adjusting for this drawings rs.3,500 and his share in the profit rs.2,300) is rs.12,000. Interest on capital is payable to him 5% per annum
To find: The amount of interest on capital
Solution:
The amount we have after deducting drawings is rs.3,500 and his share in the profit rs.2,300 is rupees 12,000.
The interest of capital is taken out on the capital balance with the rate of 5 percent.
It will be 12,000 into 5/100= 600
The interest on capital is rupees 600.
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Answer:
660 is the ryt ans ............
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