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Class 12 Accountancy Reconstitution - Retirement or Death of a Partner Partner's Loan AccountEasy

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What is the interest on a ₹72000 loan for six months at six percent per annum?

Answer and explanation

Correct answer: ₹2160

Six months is half a year, so interest is three percent of ₹72000. Exam tip: convert time into a fraction of a year.

Related tags

Interest Six Months Numerical Partner's Loan Account Partner S Loan Account Reconstitution Retirement Or Death Of A Partner Accountancy Class 12 Mcq

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