|Accounting for Partnership : Basic Concepts (Accountancy)||Close X|
Rahul, Rohit and Karan started partnership business on April 1, 2006 with capitals of Rs 20,00,000, Rs 18,00,000 and Rs 16,00,000, respectively. The profit for the year ended March 2007 amounted to Rs1,35,000 and the partner’s drawings had been Rahul Rs 50,000, Rohit Rs 50,000 and Karan Rs 40,000. The profits are distributed among partner’s in the ratio of 3:2:1. Calculate the interest on capital @ 5% p.a.