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On ₹200000 loan, ₹14000 interest was added at year end and ₹90000 was paid. What will be the remaining base amount for the next period?

Answer and explanation

Correct answer: ₹124000

Amount due including interest was ₹214000 and after payment ₹124000 remains. Exam tip: use balance after payment for next interest.

Related tags

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

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