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Net profit is Rs 50000 and interest on drawings is Rs 2000. Interest on capital is Rs 7000. What is the remaining profit?

Answer and explanation

Correct answer: Rs 45000

Interest on drawings is added and interest on capital is deducted from net profit. Rs 50000 plus Rs 2000 minus Rs 7000 equals Rs 45000.

Related tags

Interest AdjustmentsRemaining ProfitNumericalProfit DistributionPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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