##
Anand and Biswas are partners in a firm. Their Capital Accounts as on April 1, 2015 showed

balance of 2,00,000 and 3,00,000 r

Question

Anand and Biswas are partners in a firm. Their Capital Accounts as on April 1, 2015 showed

balance of 2,00,000 and 3,00,000 respectively. On July 1, 2015, Anand introduced additiona

capital of 50,000 and Biswas 60,000. On October 1, 2015 Anand withdrew 30,000 and on

January 1, 2016 Biswas withdrew * 15,000 from their capitals. Interest is allowed @ 8% per

annum. Calculate interest payable on capital to both the partners during the financial year 2015-16

[Ans. Interest on Capital : Anand 17,800 ; Biswas 27,300)

in progress
0

Mathematics
3 months
2021-07-17T13:00:47+00:00
2021-07-17T13:00:47+00:00 1 Answers
0 views
0
## Answers ( )

ANSWER :amount of Interest payble in capital of Anand@8% p.a. isandRs. 17,800amount of Interest payable on capital ofBiswas@8% p.a. is.Rs. 27,300___________________________________________________________SOLUTION :## ❒

Given :-## ❒

To Calculate :-## ❒

Required Formula :-following formula :____________________________________________

## ❒

Calculation of Interest payable on Capital to Anand during the year 2015 – 2016 :-Here,Using the formula of Interest on Capital, we get,Interest on Capital = Amount of Capital × Rate of Interest × Time⇒ Interest on Capital = Rs. 2,00,000 × 8% × 3 months

⇒ Interest on Capital = Rs. 2,00,000 × ×

⇒

Interest on Capital=Rs. 4,000Again,∴ Total Capital = Rs. 2,00,000 + Rs. 50,000

➨ Total Capital = Rs. 2,50,000

Using the formula of Interest on Capital, we get,Interest on Capital = Amount of Capital × Rate of Interest × Time⇒ Interest on Capital = Rs. 2,50,000 × 8% × 3 months

⇒ Interest on Capital = Rs. 2,50,000 × ×

⇒

Interest on Capital=Rs. 5,000And,∴ Remaining Capital = Rs. 2,50,000 – Rs. 30,000

➨ Remaining Capital = Rs. 2,20,000

Using the formula of Interest on Capital, we get,Interest on Capital = Amount of Capital × Rate of Interest × Time⇒ Interest on Capital = Rs. 2,20,000 × 8% × 6 months

⇒ Interest on Capital = Rs. 2,20,000 × ×

⇒

Interest on Capital=Rs. 8,800Now,∴

Total Interest on Capital of Anand=Rs. 17,800___________________________________________________________

## ❒

Calculation of Interest payable on Capital to Biswas during the year 2015 – 2016 :-Here,Using the formula of Interest on Capital, we get,Interest on Capital = Amount of Capital × Rate of Interest × Time⇒ Interest on Capital = Rs. 3,00,000 × 8% × 3 months

⇒ Interest on Capital = Rs. 3,00,000 × ×

⇒

Interest on Capital=Rs. 6,000Again,∴ Total Capital = Rs. 3,00,000 + Rs. 60,000

➨ Total Capital = Rs. 3,60,000

Using the formula of Interest on Capital, we get,Interest on Capital = Amount of Capital × Rate of Interest × Time⇒ Interest on Capital = Rs. 3,60,000 × 8% × 6 months

⇒ Interest on Capital = Rs. 3,60,000 × ×

⇒

Interest on Capital=Rs. 14,400And,∴ Remaining Capital = Rs. 3,60,000 – Rs. 15,000

➨ Remaining Capital = Rs. 3,45,000

Using the formula of Interest on Capital, we get,Interest on Capital = Amount of Capital × Rate of Interest × Time⇒ Interest on Capital = Rs. 3,45,000 × 8% × 3 months

⇒ Interest on Capital = Rs. 3,45,000 × ×

⇒

Interest on Capital=Rs. 6,900Now,∴

Total Interest on Capital of Anand=Rs. 27,300