From the following information, calculate interest on Capital of C, a partner for the year ended 31st March, 2022. C's Capital on 31/3/2022: Rs. 12,00,000 Profit credited to C for the year ended 31/3/2022: Rs. 3,00,000 Drawings made during the year: Rs. 1,00,000 Additional Capital introduced on 1/10/21: Rs. 5,00,000 Rate of Interest = 12 % p.a.

Question

Option 1: Rs. 60,000

Option 2: Rs. 1,44,000

Option 3: Rs. 90,000

Option 4: Rs. 1,20,000

AfterBoards · Accepted Answer

The answer is 'Rs. 90,000'. View full solution:

List-I	List-II
(A) Admission of a New Partner	(I) Realisation Account
(B) Retirement of a Partner	(II) Sacrificing ratio
(C) Dissolution of Partnership	(III) Executors Account
(D) Death of A Partner	(IV) Gaining Ratio

CUET Accountancy 2022 20 Aug Shift 2 PYQs

Keyboard Shortcuts