Question : Interest on investment received @8%pa for full year Rs 40,000.
Calculate the amount of Investment at the beginning of the year and also calculate of value of Investment at the end of the year.
Option 1: opening balance of investment Rs 5,00,000 and closing balance Rs 5,40,000
Option 2: opening balacne of Investment Rs 5,40,000 and clsoing balance of investment Rs 5,40,000
Option 3: opening balance of investment is nil and closing balance of investment Rs 5,40,000
Option 4: opening balance of Investment is Rs 5,00,000 and closing balance of Investment is Rs 5,00,000
Correct Answer: opening balance of investment Rs 5,00,000 and closing balance Rs 5,40,000
Solution :
Opening amount of investment = Rs.5,00,000 (Rs.40,000 X 100/8)
(+) Interest on investment received =
Rs 40,000
Closing amount of Investment =
Rs.5,40,000
Hence, the correct option is 1.
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