Mukesh and Vanshika are partners. They agreed to share profits in the ratio of 3:2.
Their capital balances on 01st April, 2024 were Rs. 15,00,000 and Rs. 10,00,000 respectively. Additional capital contributed by Mukesh and Vanshika was Rs. 3,00,000 and Rs. 2,00,000 respectively on 01st Jan, 2025. Interest on capital was allowed @ 5% p.a. Find the interest on Vanshika's Capital.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 52,500
Interest on capital is worked out on the capital actually in the firm and only for the months it stayed there. So the additional capital earns interest from the day it came in, not for the whole year. The profit sharing ratio of 3:2 plays no part in this figure.
Vanshika’s interest at 5% p.a.:
Opening capital: Rs. 10,00,000 × 5/100 = Rs. 50,000 (April 01, 2024 to March 31, 2025)
Additional capital: Rs. 2,00,000 × 5/100 × 3/12 = Rs. 2,500 (January 01 to March 31, 2025)
Interest on Vanshika’s capital = Rs. 50,000 + Rs. 2,500 = Rs. 52,500
Note: NTA picked this question from an NCERT (2026-27) illustration and changed the figures. Do not ignore NCERT while practising numericals.
NCERT (2026-27 edition):
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