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On ₹150000 loan, ₹9000 interest was added at year end and ₹50000 was paid. What will be the base loan for the next period?

Answer and explanation

Correct answer: ₹109000

Amount due including interest was ₹159000 and after payment ₹109000 remains. Exam tip: new base is the balance after payment.

Related tags

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

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