X and Y are partners in the ratio of 3:2. Their capitals are ₹2,00,000 and ₹1,00,000 respectively. Interest on capitals is allowed @ 8% p.a. Firm earned a profit of ₹15,000 for the year ended 31st March 2019. Interest on Capital will be :
A. X ₹16,000; Y ₹8,000
B. X ₹9,000; Y ₹6,000
C. X ₹10,000; Y ₹5,000
D. No Interest will be allowed
Answer:C
X and Y are partners in the ratio of 3:2. Their capitals are ₹2,00,000 and ₹1,00,000 respectively. Interest on capitals is allowed @ 8% p.a. Firm earned a profit of ₹15,000 for the year ended 31st March 2019. Interest on Capital will be :
A. X ₹16,000; Y ₹8,000 B. X ₹9,000; Y ₹6,000 C. X ₹10,000; Y ₹5,000 D. No Interest will be allowed