How to calculate interest on capital in single entry system

Asked by admin @ 06/08/2021 in Accountancy viewed by 462 People

How will find the interest on capital in single entry system

Answered by admin @ 06/08/2021

It is calculated by percentage of interest given in the sum
If date is given calculate from that period
For eg. A introduced additional capital on 1 oct rs. 20000 rate of interest is 10%
Ans . 20000*10/100*6/12
(Here 6/12 bcoz its period is 6 months)
Interest = rs.1000

And if date is not given assume the period is 6 months

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Asked by admin @ 28/10/2021 in Mathematics viewed by 290 persons

The formula used to calculate simple interest is modeled by I=prt, where I=simple interest, p=principle, r=interest rate, and t=time, measured in years. Which of the following options represent(s) an alternative …

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Asked by admin @ 03/08/2021 in Math viewed by 394 persons

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