[ISC] Q. 19 Solution of Fundamentals of Partnership Firms TS Grewal Book ISC (2026-27)

Solution of Question number 19 of the Fundamentals of Partnership Accounts (Firm) chapter TS Grewal Book 2026-27 Edition ISC Board.

Ram and Mohan are partners and their capitals for the year ended 31st March 2024 were ₹ 2,40,000 and ₹ 1,80,000 respectively. During the year 2023-24, 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, 2024.

Solution:-

Q. 20. Assuming the capitals were fixed in problem 19, calculate interest on capital.

Solution:-