30 Dec 2020 7:49 pm
Balbharati, Solutions, for, Book-keeping, and, Accountancy, 12th, Standard, Hsc, Maharashtra, State, Board, Chapter 2, Accounts of ‘Not for Profit’ Concerns, Full solution,
12% p.a. Interest on Bank loan ₹ 80,000 for 1 year.
Solution:
12 % p.a. Interest on Bank loan ₹ 80,000 for 1 year.
Interest = (PNR/100) = 80000 x (12/100) = ₹ 9600
Thus, interest on Bank loan ₹ 80,000 for 1 year = ₹ 9600.