[ISC] Q. 15 Solution of Fundamentals of Partnership Firms TS Grewal Book ISC (2026-27)

Solution of Question number 15 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2026-27 Edition ISC Board.

Chirag and Ashish were partners sharing profits in the ratio of 3 : 2. Their capitals as on 1st April, 2023 were ₹ 5,00,000 and ₹ 4,00,000 respectively. The Partnership Deed allowed interest on capital @ 8% p.a.

Calculate interest on Capitals of Chirag and Ashish for the year ended 31st March, 2024.

Solution:-