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12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    On 1st April, 2018, X’s capital was Rs.20,000. On 1st October, 2018, he introduces additional capital of Rs.10,000. Interest on capital @6% p.a. on 31st March, 2019 will be:

    A) Rs.900                            

    B) Rs.1,800    

    C) Rs.1,050                         

    D) Rs.1,500

    Correct Answer: D

    Solution :

    [d] Rs.1,500
    Hint: Interest on Capital:            (Rs.)
    \[20,000\times \frac{6}{100}\]                  = 1,200
    \[10,000\times \frac{6}{100}\times \frac{6}{12}\]    =    300                                                      
                                                       1,500
     


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