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A introduced rupees thirty thousand on first January and additional rupees twenty thousand on first July. The deed allows interest at twelve percent. What is the total interest for the year?

Answer and explanation

Correct answer: Rupees four thousand eight hundred

Interest is charged on thirty thousand for full year and on twenty thousand for six months. Calculate interest according to time.

Related tags

Interest On CapitalTime AdjustmentNumericalPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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