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Anand was due ₹300000. ₹100000 was paid immediately and the balance carries ten percent annual interest. After six months ₹50000 instalment was paid. What is interest for first six months?

Answer and explanation

Correct answer: ₹10000

After immediate payment, six months' interest at ten percent on ₹200000 is ₹10000. Exam tip: do not change the base before the instalment date.

Related tags

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

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