| 31st May, 2021 | Rs. 20,000 |
| 1st November, 2021 | Rs. 17,500 |
| 1st February, 2022 | Rs. 12,500 |
Calculate interest on partners’ [email protected] 10% p.a. and interest on partners’ [email protected] 6% p.a. for the year ended 31st March, 2022.
SOLUTION
The capital accounts of Tisha and Divya showed credit balances of 10,00,000 and 7,50,000 respectively after taking into account drawings and net profit of Rs. 5,00,000. The drawings of the partners during the year 2021-22 were:(i) Tisha withdrew 25,000 at the end of each quarter.(ii) Divya’s drawings were: