Ram and Laxman started business on 1st April 2022 with capitals of ₹ 20,00,000 and ₹ 12,00,000 respectively. On 1st May, Ram introduced additional capital of ₹ 4,00,000 and Laxam withdrew ₹ 2,00,000 from his capital.

Anurag Pathak
April 14, 2023
[ISC} TS Grewal Solutions, Accountancy Class 12th

2.14K viewsApril 14, 2023[ISC} TS Grewal Solutions Accountancy Class 12th

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Ram and Laxman started business on 1st April 2022 with capitals of ₹ 20,00,000 and ₹ 12,00,000 respectively.

On 1st May, Ram introduced additional capital of ₹ 4,00,000 and Laxam withdrew ₹ 2,00,000 from his capital.

On 1st October, Ram withdrew ₹ 8,00,000 from his capital and Laxman introduced ₹ 10,00,000. Interest on capital is allowed @ 6% p.a. Calculate the interest on capital for the year ending 31st March 2023.

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