Question 1
Partner A contributed ₹1,000,000 as capital on 1st April 2024 and introduced additional capital of ₹200,000 on 1st October 2024. If interest on capital is allowed at 10% per annum, what is the total interest on capital for the year ending 31st March 2025?
Correct Answer:
₹110,000
Question 2
A partner draws ₹5,000 at the beginning of every month throughout the year. Interest on drawings is charged at 12% per annum. What is the total interest on drawings charged to the partner for the year?
Correct Answer:
₹3,900
Question 3
A partner withdraws ₹4,000 at the middle of every month throughout the financial year. Interest on drawings is charged at 10% per annum. What is the total interest on drawings?
Correct Answer:
₹2,400
Question 4
A partner withdraws ₹6,000 at the end of every month during the financial year. If interest on drawings is charged at 8% per annum, what is the amount of interest on drawings?
Correct Answer:
₹2,640
Question 5
In the absence of any written Partnership Deed, what rate of interest per annum is payable on an advance or loan provided by a partner to the firm?
Correct Answer:
6% per annum
Question 1
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Prepare with the WB HS Accountancy Practice Questions - West Bengal Higher Secondary Examination - Accountancy Exam practice quiz. This question bank includes 100 questions covering partner, profit, firm, interest, and share. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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WB HS Accountancy Practice Questions - West Bengal Higher Secondary Examination - Accountancy Exam

This practice set contains 100 questions from the matching question bank and focuses on partner, profit, firm, interest, and share. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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