[CBSE] Q. 39 solution of Retirement of Partner TS Grewal Class 12 (2026-27)
Solution to Question number 39 of the Retirement of Partner chapter 5 of TS Grewal Book 2026-27 Edition CBSE Board.
Rakesh retired from the firm. The amount due to his was determined at ₹ 90,000. It was decided to pay the due amount as follows:
On the date of retirement – ₹ 30,000
Balance in three yearly instalments – First two instalments being of ₹ 26,000, including interest; and Balance amount as last instalment.
Interest was payable @ 10% p.a. Prepare Retiring Partner’s Loan Account.
[Ans.: Interest payable at the end ofyear 1 – ₹ 6,000; Year 2 – ₹ 4,000; Year 3 – ₹ 1,800; Last instalment – ₹ 19,800.]
Solution:-
