Question 11 Chapter 2 – Unimax Class 12 Part 1 – 2021

Question 11 Chapter 2 - Unimax Class 12 Part 1 - 2021

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
[ Rs. 40,000 x 6 ]
100
 
On Rs. 5,000 for 5 months @ 6% p.a. 125
[ Rs. 5,000 x 6 x 5 ]
100 12
 
On Rs. 5,000 for 1 months and 15 days @ 6% p.a. 37.5
[ Rs. 5,000 x 6 x 1.5 ]
100 12
 
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

You Can also read all above articles in Hindi on our Hindi Website

What is Partnership – Meaning and its Types – in Hindi

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