M and R are partners sharing profits and losses in the ratio of 3 : 2. Their capital A/c's showed the balance of Rs. 4,00,000 and Rs. 3,00,000 respectively on 1 April, 2021. M introduced additional capital on 1 August, 2021. Interest on capital is allowed @ 6% p.a. Total interest on capital of both the partners is Rs. 50,000. Calculate additional capital introduced by M on 1 August, 2021 and interest on capital earned on additional capital. Books are closed on 31 March.

Question

Option 1: Rs. 1,00,000 and Rs. 4,000

Option 2: Rs. 3,00,000 and Rs. 18,000

Option 3: Rs. 2,00,000 and Rs. 8,000

Option 4: Rs. 1,50,000 and Rs. 10,000

AfterBoards · Accepted Answer

The answer is 'Rs. 2,00,000 and Rs. 8,000'. View full solution:

CUET Accountancy 2022 23 Aug Shift 2 PYQs

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