Question

The closing capital of Ansh is Rs. 80,000 on which Rs 12,500 is drawings and profit of Rs.17,800

is recorded. What will be the interest @ 6 % p.a. on the opening capital​

Answer 1

Answer:

The formula for opening capital= Opening capital + Drawing - profit

So.....,

Opening capital= 80,000 + 12500 - 17800=74700

Int on opening capital= 74700× 6% = 4,482