Question : Ram and Mohon are Partners with a capital of Rs 37500 and Rs 22,500, respectively. Interest Payable on capital @ 10% p.a. Find the interest on capital credited to both partners when the Profit earned by the firm is Rs 3600.
Option 1: Rs 3,750, Rs 2,250.
Option 2: Rs 1,800, Rs 1,800
Option 3: Rs 2,250, Rs 1,350
Option 4: None of these.
Correct Answer: Rs 2,250, Rs 1,350
Solution : Answer = Rs 2,250, Rs 1,350 Interest: Ram=2,250 Mohan=1,350 Interest on capital: Ram=3,750 Mohan=2,250 Inadequate profit=3,600 Ram: Mohan=3750:2250=150:90=5:3. Hence, the correct option is 3. Ram=$3600 \times \frac{5}{8}$=2250 Mohan=$3600 \times \frac{3}{8}$=1350
Question : A and B are equal partners with capitals of Rs.2,00,000 and Rs.1,00,000 respectively. As per deed, they are allowed an interest @ 8% p.a. on capital. During the year, the firm earned a profit of Rs.12,000. Interest on capital allowed to A and B will be:
Option 1: Rs.16,000 and Rs.8.000 respectively
Option 2: Rs.8,000 and Rs.4,000 respectively
Option 3: Nil
Option 4: Rs.6,000 each
Question : A, B and C are partners, sharing profits in the ratio 5:3:2 with fixed capital of Rs.80,000, Rs.60,000 and Rs.20,000 respectively. Partners are entitled to interest on their capital @ 10% p.a. During the year firm earned a profit of Rs.11,200. The amount of interest on capital payable to A, B and C will be:
Option 1: Rs.4,000, Rs.3,000, Rs.2,000
Option 2: Rs.5,600, Rs.4,200, Rs.1,400
Option 3: Rs.8.000, Rs.6,000, Rs.2,000
Option 4: Rs.1,400, Rs.4,200, Rs.5,600
Question : X and Y are partners with capitals of Rs 3,00,000 and 2,50,000, respectively. They are entitled to interest on capital @ 6% p.a. The Firm earned a profit of Rs 55,000 after charging interest on capital. If the manager is entitled to 10% of net profit before charging his commission, the manager's commission will be
Option 1: Rs 3,200
Option 2: Rs 5,500
Option 3: Rs 4,000
Option 4: Rs 8,800
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