Question

The opening balance of a prize fund of a sports club was Rs. 10,800. Further donations received during the accounting year amounted to Rs. 9,600. During the year Rs. 7,000 was spent on prizes and Rs. 800 was received as interest on investment of the Prize fund. The closing balance Prize Fund is:
(a) Rs. 1,200 (b) Rs. 13,400
(c) Rs. 14,200 (d) Rs. 8,200

Answer 1

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