CA CPT Exam > CA CPT Questions > Mr. A is a partner in a firm along with Mr. B...
Start Learning for Free
Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital is
- a)Rs.2,500
- b)Rs.2,000
- c)Rs.4,500
- d)None of the above
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Mr. A is a partner in a firm along with Mr. B. Both contributed capita...
Interest on Capital Calculation:
------------------------------------------------------------
To calculate the interest on capital, we need to multiply the capital amount with the rate of interest and the time period for which the interest is to be calculated. In this case, the interest rate is 10% and the time period is from 1st July to 31st December, which is 6 months.
Calculation:
------------------------------------------------------------
Mr. A's capital = Rs. 40,000
Mr. B's capital = Rs. 50,000
Rate of interest = 10%
Time period = 6 months
Interest on Mr. A's capital = Rs. (40,000 * 10% * 6/12) = Rs. 2,000
Interest on Mr. B's capital = Rs. (50,000 * 10% * 6/12) = Rs. 2,500
Total interest on capital = Rs. (2,000 + 2,500) = Rs. 4,500
Therefore, the correct answer is option C) Rs. 4,500.
------------------------------------------------------------
To calculate the interest on capital, we need to multiply the capital amount with the rate of interest and the time period for which the interest is to be calculated. In this case, the interest rate is 10% and the time period is from 1st July to 31st December, which is 6 months.
Calculation:
------------------------------------------------------------
Mr. A's capital = Rs. 40,000
Mr. B's capital = Rs. 50,000
Rate of interest = 10%
Time period = 6 months
Interest on Mr. A's capital = Rs. (40,000 * 10% * 6/12) = Rs. 2,000
Interest on Mr. B's capital = Rs. (50,000 * 10% * 6/12) = Rs. 2,500
Total interest on capital = Rs. (2,000 + 2,500) = Rs. 4,500
Therefore, the correct answer is option C) Rs. 4,500.
|
Explore Courses for CA CPT exam
|
|
Similar CA CPT Doubts
Top Courses for CA CPTView all
Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
Question Description
Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? for CA CPT 2025 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA CPT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.
Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? for CA CPT 2025 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA CPT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA CPT.
Download more important topics, notes, lectures and mock test series for CA CPT Exam by signing up for free.
Here you can find the meaning of Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Mr. A is a partner in a firm along with Mr. B. Both contributed capitals of Rs.40,000 and Rs.50,000 respectively on the 1st of July, 2009. Interest on capital is to be charged @ 10% p.a. Books of account are to be closed on 31st December, 2009. Interest on capital isa)Rs.2,500b)Rs.2,000c)Rs.4,500d)None of the aboveCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CA CPT tests.
|
|
Explore Courses for CA CPT exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup