Opening capital of Keshav was:
Show Hint
- rupee 35,000
- rupee 39,000
- rupee 43,000
- rupee 52,000
The Correct Option is D
Solution and Explanation
We calculate Keshav's opening capital using the formula: \[ \text{Opening Capital} = \text{Closing Capital} - \text{Net Profit} + \text{Drawings} - \text{Interest on Drawings} \]
Given: - Closing Capital = rupee 55,000 - Keshav’s Share of Profit = \( \frac{3}{5} \times rupee 15,000 = rupee 9,000 \)
- Drawings during the year = rupee 1,500 × 4 = rupee 6,000
- Interest on Drawings: \[ \text{Interest} = rupee 6,000 \times 8\% \times \frac{6.5}{12} = rupee 260 \]
Now, applying the formula: \[ \text{Opening Capital} = rupee 55,000 - rupee 9,000 + rupee 6,000 - rupee 260 \] \[ = rupee 52,000 \]
Thus, the correct answer is rupee52,000 (Option D).
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