Question 20 Chapter 2 of Class 12 Part – 1 Usha Publication

Question 20 Chapter 2 of Class 12 Part – 1 Usha Publication

20. (Calculation of interest on Capital) A and B started business on 1-4-2018 with capitals of Rs.60,000 and Rs.40,000 respectively. During the year, A introduced Rs.10,000 to the firm as additional capital on 1-10-18. They withdrew Rs.500 p.m. for household expenses in lieu of profits . Interest on Capital is to be allowed @ 10% p.a.

Calculate the interest payable to A and B for the year ending 31-3-19.

The solution of Question 20 Chapter 2 of Class 12 Part – 1 Usha Publication: -

We are providing a solution of Question 20 Chapter 2 of Class 12 Part - 1 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:

1. Check out the Solution of this question in Video Format:-

The video consists solution of questions numbers 18 to 28 Chapter No. 2 class 12 of Usha publication. To check the direct solution of question no. 20 from the following video by using time stamps of the video.

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2. Check out the Solution of this question in Article Format: -

Date	Particulars		Details	Amount
	Interest on A’s Capital:
	On 60,000 @10% for 1 year (60,000 x 10/100)		6,000
	On 10,000 @10% for 1/2 year (10,000 x 10/100 x 6/12)		500	6,500
	Interest on B’s Capital:
	On 40,000 @10% for 1 year (40,000*10/100)			4,000