The Capital accounts of Tisha and Divya showed credit balances of Rs 10,00,000 and Rs 750,000 respectively

44:- The capital accounts of Tisha and Divya showed credit balances of Rs 10,00,000 and Rs 7,50,000 respectively after taking into account drawings and net profit of Rs 5,00,000. The drawings of the partners during the year ended 31st March, 2025 were:
(i) Tisha withdrew Rs 25,000 at the end of each quarter
(ii) Divya’s drawings were:
31st May 2024 Rs 20,000
1st November 2024 Rs 17,500
1st February 2025 Rs 12,500
Calculate Interest on partner’s Capitals @ 10% p.a. and interest on partner’s drawings @ 6% p.a. for the year ended 31st March 2025.

Solution:- Calculation of Interest on Tisha’s drawings
Average months = 9 + 0/2 = 4.5
Interest on Tisha’s drawings = 25,000 x 4 x 6/100 x 4.5/12
= Rs 2,250

Interest on Divya’s drawings = 3,12,500 x 6/100 x 1/12
 = 1,562.5
= Rs 1,563

Calculation of interest on Tisha’s capital
Opening capital = closing capital + drawings – profits
 = 10,00,000 + 1,00,000 – 2,50,000
= Rs 8,50,000

Interest on Tisha’s capital = 8,50,000 x 10/100
= Rs 85,000

Calculation of interest on Divya’s capital
Opening capital = closing capital + drawings – profits
 = 7,50,000 +  50,000 – 2,50,000
  = Rs 5,50,000

Interest on Divya’s capital = 5,50,000 x 10/100
 = Rs 55,000