X and Y are partners having capital of Rs.5, 00,000 and Rs.4, 00,000 respectively. X
introduced additional capital on 30.6.2011, Rs.1,00,000. Calculate interest on capital
@9%p.a. for the year 2011.
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Answer:
working note: X&Y capital:500000+400000=90000
additional capital:100000
interest on capital:900000+100000=1000000
interest on capital rate@9%p.a
=900000×9÷100=81000(12month)1.4.2011 to 31.3.2012
=100000×9÷100×9÷12=6750(9month)30.6.2011 to 31.32012
interest on capital=81000+6750
=87750
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