Question

The opening balance of prize fund was Rs. 100000.During the year, donations received towards this prize fund amounted to Rs. 15400 amount spent on prizes was Rs. 12300 and interest received on prize fund investment was Rs. 4000. The closing balance of prize fund will be :.

Answer 1

Closing balance= 1 00 000 +15 400-12 300+4000
=1,07,100