Couldn't able to calculate interest on capital

A and B are two partners. They agreed to allow interest on capital @ 5% per annum. Capital accounts as on 1.4.13 were A Rs. 20,000 and B Rs. 15000. 

A introduced further capital of Rs. 5,000 on 1.10.13 and B introduced Rs. 3,000 on 1.1.14. 

Calculate interest on Capital of each Partner as 31.3.14

Replies (3)

A's Interest = Rs. 1123.97 Or Say Rs. 1124

B's Interest = Rs. 786.57 Or Say Rs. 787

 

Originally posted by : Kunal Pansari

A's Interest = Rs. 1123.97 Or Say Rs. 1124

B's Interest = Rs. 786.57 Or Say Rs. 787

 

Please show me the calculation how you solved it?

Dear

You can calculate in Excel by usuig a Table as follows:

   A         B         C       D    E     F       G

Date of Receipt Party Amount % of Int Year end dt No of days Interest Amount

 E = 31sr March year end

F = E (-) A

G =  C  * D *F/365

excel will do the work if we give proper combination

 

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