Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March, 2018.
Liabilities | Rs. | Assets | Rs. |
Neelkant's Capital Mahadev's Capital Neelkan't Curent A/c Mahadev's Current A/c Profit and Loss Appropriation A/c (March 2018) | 10,00,000 10,00,000 1,00,000 1,00,000 8,00,000
| Sundry Assets
| 30,00,000
|
| 30,00,000 | | 30,00,000 |
During the year Mahadev's drawings were Rs. 30,000. profits during the year ended 31st march, 2018 is Rs. 10,00,000. calculate interest on capital @ 5% p.a. for the ending 31st march, 2018.