Question

On $1-1-2015$ balance in capital account of partner was Rs. $1,00,000$. He introduced certain amount on $1-5-2015$. As per partnership deed interest on capital is to be provided @ $12\%$ p.a. If Profit & Loss Appropriation A/c is debited for Rs. $18,000$ as interest on capital, how much amount was introduced by the partner on $1-5-2015$?

• A. Rs. $18,000$
• B. Rs. $60,000$
• C. Rs. $75,000$
• D. Rs. $1,00,000$

Answer 1

The correct option is C Rs. $75,000$

Let the amount introduced be 'x'.
$1,00,000\times 12\%=12000$
$x\times 12\%\times \frac{8}{12}=0.08x$
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$18,000$
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$12,000+0.08x=18,000$
$0.08x=6,000$.
$x=75,000$.