Capital at the end of the year Rs.5,00,000 Drawings during the year Rs.50,000 Profit for the year Rs.1,00,000 Interest on opening capital @ 10% per annum will be
A. 50,000
B. 5,50,000
C. 45,000
D. 55,000
Answer:C
Capital at the end of the year Rs.5,00,000 Drawings during the year Rs.50,000 Profit for the year Rs.1,00,000 Interest on opening capital @ 10% per annum will be
A. 50,000 B. 5,50,000 C. 45,000 D. 55,000