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₹132000 is payable to the executor of a deceased partner. ₹72000 is paid after six months and the balance remains outstanding till year end. At six percent per annum, what is the total interest?

Answer and explanation

Correct answer: ₹5760

Interest is charged on ₹132000 for six months and on ₹60000 for the next six months. Exam tip: apply the same loan rule to executor's account.

Related tags

ExecutorDeathNumericalPartner's Loan AccountPartner S Loan AccountReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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