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A's opening capital was (₹300000). He introduced (₹60000) on 1 June and withdrew capital (₹90000) on 1 December. Interest on capital is (9%). What is the interest for the year?

Answer and explanation

Correct answer: (₹28500)

Interest is (300000\times9%+60000\times9%\times\frac{10}{12}-90000\times9%\times\frac{4}{12}=₹28800). Since no option matches, the question should be checked for option error.

Related tags

PartnershipAdjustmentsCapital ChangesPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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