Worksheet to speed up your Accountancy calculation

Worksheet to speed up your calculation
Chapter Name              :  Accounting for Partnership - Fundamentals Name of Topic              :  Calculation of Interest on Capital Name Of Student               : Instructions 1.    Bring your maximum concentration for solving problem. 2.   Try to read all questions carefully. 3.   Try to solve the problem with in the stipulated time. 4.   Create a mind map while solving the problem. 5.   Improve your speed with conscious thoughts. 6.   The question number column includes the time with in which you have to solve the problem.
Q.1	Jayna, Reshma and Nain entered into partnership, bringing in Rs. 3,00,000, Rs. 2,00,000 and Rs. 1,00,000 respectively into the business. They decided to share profits and losses equally and agreed that interest on capital will be provided to the partners @10 per cent per annum. Calculate the Interest on Capital of Partners.
Answer	Calculation of Interest on Capital of Partners: Jayna             =  300000 ×     = 30000 Reshma          =  200000 ×     = 20000 Jayna             =  100000 ×     = 10000
Q.2 [ 5 minutes]	Raju, Peter and Nivin entered into partnership, bringing in Rs. 2,10,000, Rs. 2,50,000 and Rs. 1,50,000 respectively into the business. They decided to share profits and losses equally and agreed that interest on capital will be provided to the partners @12 per cent per annum. Calculate the Interest on Capital of Partners.
Answer
Q.3 [ 3 minutes]	Jeevan, Athri and Ram entered into partnership, bringing in Rs. 2,80,000, Rs. 3,50,000 and Rs. 4,50,000 respectively into the business. They decided to share profits and losses equally and agreed that interest on capital will be provided to the partners @15 per cent per annum. Calculate the Interest on Capital of Partners.
Answer
Q.4 [ 1 minutes]	Neethu, Sheeja and Rama entered into partnership, bringing in Rs. 2,40,000, Rs. 1,55,000 and Rs. ,75,000 respectively into the business. They decided to share profits and losses equally and agreed that interest on capital will be provided to the partners @15 per cent per annum. Calculate the Interest on Capital of Partners.
Answer

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