1 Calculations questions from CUET Accountancy 16 July Shift 2 with detailed answers and explanations. Free previous year questions and MCQs.
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Calculations — CUET Accountancy 16 July Shift 2(1–1 of 1)
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Q1hardmcqCUET AccountancyCUET Accountancy 16 July Shift 22026
Vivek, Virat, and Vineet were partners in a firm. Their capital accounts as on April 1, 2019, showed balances of ₹4,00,000, ₹6,00,000, and ₹8,00,000 respectively. On 1st July 2019, Virat introduced additional capital of ₹1,00,000, while Vineet withdrew ₹50,000 from his capital on 31st October 2019. Interest on capital is allowed @ 8% p.a. Calculate the interest on capital to be given to each partner at the end of the financial year (31st March 2020).
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