Question

The capital account of Begum and Fatima on 1^st January, 2018 showed a balance of ₹ 50,000 and ₹ 40,000 respectively. On 1^st October, 2018, Begum introduced an additional capital of ₹ 10,000 and on 1^st May, 2018 Fatima introduced an additional capital of ₹ 9,000.
Calculate interest on capital at 4% p.a. for the year ending 31^st December, 2018.

Answer 1

Begum		Fatima
`50,000 xx 4/100`	2,000	`40,000 xx 4/100`	1,600
Additional capital:		Additional capital:
`10,000 xx 4/100 xx 3/12`	100	`9,000 xx 4/100 xx 8/12`	240
Begum's Total Interest:	2,100	Fatima's Total Interest:	1,840