CUET Accountancy - X and Y are partners sharing profits in the ratio 3:2. Capital introduced by X and Y is ₹ 1,00,000 and ₹ 5,00,000 respectively. Interest on capital is allowed to partners @ 10%p.a. Profit of the firm for the year ending March 31st, 2025 is ₹ 30,000. Calculate Interest on Capital to be allowed to the partners. | PYQs + Solutions

CUET Accountancy 2025 16 May Shift 1

Partnership

Medium

20,000 ; 10,000

18,000 ; 12,000

5,000 ; 25,000

12,000 ; 18,000

✅ Correct Option: 3

Related questions:

22 May Shift 2

A and B are partners in a firm with their fixed capital Rs 4,00,000 and 5,00,000 respectively. After preparation of accounts, it was found that interest on capital @ 10% p.a as provided by the partnership deed is omitted. In order to rectify the mistake, A's current account will be ………?

13 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Admission of a partner	(I) Executor Accounts
(B) Retirement of a partner	(II) Sacrificing Ratio
(C) Death of a partner	(III) Realisation Account
(D) Dissolution of a partnership	(IV) Gaining Ratio

Choose the correct answer from the options given below:

30 May Shift 2

A partnership deed usually doesn't contain the following details:

CUET Accountancy 2025 16 May Shift 1 PYQs

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