Question : From the following information given in respect of certain items of a Sports Club.
Sports fund as on 1st April 2020 Rs 1,50,000
Sports Fund Investment Rs 3,50,000
Interest on sports fund Investment Rs 40,000
Donation for sports fund Rs 1,50,000
Sports Prize awarded Rs 1,00,000
Expenses on Sports event Rs 40,000
Calculate the balance of Sports Fund as on March 31, 2021.
Option 1: Rs 4,40,000
Option 2: Rs 7,50,000
Option 3: Rs 2,00,000
Option 4: Rs 3,90,000
Correct Answer: Rs 2,00,000
Solution :
Sports fund as on 1st April 2020 = Rs 1,50,000
(+) Interest on sports fund Investment = Rs 40,000
(+) Donation for sports fund = Rs 1,50,000
(-) Sports Prize awarded = (Rs 1,00,000)
(-) Expenses on Sports event =
(Rs 40,000)
Sports Fund balance on March 31, 2021=
Rs.2,00,000
Hence, the correct option is 3.
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