X and Y are partners in the ratio of 3 : 2. Their capitals are ₹2,00,000 and ₹1,00,000 respectively. Interest on capitals is allowed @ 8% p.a. Firm earned a profit of ₹15,000 for the year ended 31st March 2019. As per partnership agreement, interest on capital is treated a charge on profits. Interest on Capital will be :
Answers
Answered by
2
Answer:
interest on capital
Partner X
8% Of 2,00,000 = 16,000
Partner Y
8% of 1,00,000 = 8,000
Explanation:
Similar questions