Ram and Mohan are partners and their capitals for the year ended 31st March 2023 were ₹ 2,40,000 and ₹ 1,80,000 respectively.
Ram and Mohan are partners and their capitals for the year ended 31st March 2023 were ₹ 2,40,000 and ₹ 1,80,000 respectively.
During the year 2022-23, Ram’s and Mohan’s drawings were ₹ 40,000 and ₹ 60,000 respectively. Profit (before charging interest on capital) during the year was ₹ 1,60,000.
Calculate interest on capital @ 5% p.a. for the year ended 31st March, 2023.
Anurag Pathak Changed status to publish April 19, 2024
