Question

On $\mathrm{1.4.2013}$ Mohan and Sohan entered into partnership for doing business of dry fruits. Mohan introduced Rs $1,00,000$ as capital and Sohan introduced $Rs50,000$. Since Sohan could introduce only $Rs50,000$ it was further agreed that as and when there will be a need Sohan will introduce further capital. Sohan was also allowed to withdraw from his capital when the need for the capital was less. During the year ended $\mathrm{31.3.2014}$, Sohan introduced and withdrew the following amounts of capital :
Date Capital Introduced Capital Withdrawn
$\mathrm{01.5.2013}$ $10,000$ -----
$\mathrm{30.6.2013}$ ----- $5,000$
$\mathrm{30.9.2013}$ $97,000$ -----
$\mathrm{01.2.2014}$ ----- $87,000$
The partnership deed provided for interest on capital $@6\%$ per annum. Calculate interest on capitals of the partners.

Answer 1

Interest on Mohan's capital = $Rs6,000$
Interest on Sohan's Capital = $Rs5,365$
Working Notes :
WN1 : Calculation of Interest on Mohan's capital
$1,00,000\times \frac{6}{100}=Rs6,000$
WN2 : Calculation of Interest on Sohan's capital.