Question

The opening balance of Tournament fund was Rs. 16,400. During the year, donations

received towards this fund amounted to Rs. 7,700, amount spent on matches was Rs. 6,150

and interest received on tournament fund investment was Rs. 2,000. The closing balance of

tournament fund will be: 1

(a) Rs. 28,250

(b) Rs. 32,250

(c) Rs. 19,950

(d) Rs. 15,950​

Answer 1

Explanation:

closing balance = opening balance + donations received+ interest received - expenses

= 16,400 + 7,700 + 2,000 - 6,150 => ₹ 19,950

hence option (C) is correct.

hope you understand

Answer 2

The closing balance of the tournament is Rs. 19,950

Given:

Opening balance of Tournament fund = Rs. 16,400

Donations Received = Rs. 7700

Amount spent on matches = Rs. 6,150

Interest Received = 2000

To Find:

The closing balance of the tournament fund

Solution:

Total amount of fund -

Opening Balance + Amount Spent

16,400 + 7700

= 24,100

Since, amount is spent on matches, it is a deduction ( Expense) thus -

= 24,100 - 6,150

= 17,950

Interest received is an additional component -

= 17,950 + 2000

= 19,950

Answer: The closing balance of the tournament is Rs. 19,950

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