[CBSE]Q. 3 solution of Fundamentals of Partnership Firms DK Goel 2022-23

Solution to Question number 3 of the Fundamentals of partnership firm chapter DK Goel Book (2022-23)

X, Y and Z are partners in a firm. Their Capitals as on April 1, 2020 were ₹ 5,00,000; ₹ 4,00,000 and ₹ 3,00,000 respectively. On July 1, 2020 they introduced further Capitals of ₹ 1,00,000; ₹ 80,000 and ₹ 50,000 respectively. On February 1, 2021 Y withdrew ₹ 15,000 from his Capital. Interest is to be allowed @ 8% p.a. on the Capitals. Compute interest on Capitals for the year ending March 31, 2021.

[Ans. Interest on Capitals : X ₹ 46,000; Y ₹ 36,600 and Z ₹ 27,000.]

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