[CBSE] Q. 31 solution of Fundamentals of Partnership Firms TS Grewal Book (2024-25)

Solution of Question number 31 of the Fundamentals of Partnership Firm chapter TS Grewal Book CBSE 2024-25 Edition?

Amit and Bramit started business on 1st April 2023 with capitals of ₹ 15,00,000 and ₹ 9,00,000 respectively. On 1st October 2023, they decided that their capital should be ₹ 12,00,000 each. The necessary adjustments in the capital were made by introducing or withdrawing by cheque. Interest on capital is allowed @ 8% p.a. Compute interest on capital for the year ended 31st March 2024.

[Ans: Interest on capital: Amit – ₹ 1,08,000; Bramit – ₹ 84,000.]

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