Question 11 Chapter 2 – Unimax Class 12 Part 1
11. X and Y are partners and they had Rs. 40000 and Rs. 60000 in their respective capital accounts as on 1st January, 2021. X paid in further Rs. 5000 on 1st August, 2021 and another Rs. 5000 on 15th November, 2021. Compute the interest on Capital to be allowed to X assuming the rate of interest to be 6% per annum.
The solution of Question 11 Chapter 2 – Unimax Class 12 Part 1:
| Calculation of Interest on capital of X | Rs. | ||||||||
| On Rs. 40,000 for one year @ 6% p.a. | 2400 | ||||||||
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| On Rs. 5,000 for 5 months @ 6% p.a. | 125 | ||||||||
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| On Rs. 5,000 for 1 months and 15 days @ 6% p.a. | 37.5 | ||||||||
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| Interest on X’s Capital | 2,562.50 |
This is all about the Question 11 Chapter 2 – Unimax. You can check out the following article to better understand:
What is Partnership – Meaning and its Types
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What is Partnership – Meaning and its Types – in Hindi
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