Q.Antony and Akbar were partners who shared profits and losses in the ratio of 3 : 2. Balance in their Capital account on 1st January 2018 was, Antony ₹ 60,000 and Akbar ₹ 40,000. On 1st April 2018 Antony introduced additional capital of ₹ 10,000. Akbar introduced additional capital of ₹ 5,000 during the year. Calculate interest on capital at 6% p.a. for the year ending 31st December 2018.

Interest on capital works out to ₹4,050 for Antony and ₹2,550 for Akbar. Given - Antony's capital on 1.1.2018 = ₹60,000; additional ₹10,000 introduced on 1.4.2018 - Akbar's capital on 1.1.2018 = ₹40,000; additional ₹5,000 introduced during the year (date not given) - Rate of interest on capital = 6% p.a.; year ending 31.12.2018 Antony's interest on capital | Amount (₹) | Period | Calculation | Interest (₹) | | --- | --- | --- | --- | | 60,000 | Full year (12 months) | 60,000 × 6% | 3,600 | | 10,000 | 1.4.2018 to 31.12.2018 (9 months) | 10,000 × 6% × 9/12 | 450 | | Total | | | 4,050 | Akbar's interest on capital Since the date of Akbar's additional capital is not given, interest on it is charged for an average period of 6 months. | Amount (₹) | Period | Calculation | Interest (₹) | | --- | --- | --- | --- | | 40,000 | Full year (12 months) | 40,000 × 6% | 2,400 | | 5,000 | 6 months (date not given) | 5,000 × 6% × 6/12 | 150 | | Total | …