CBSE 2024 · Region 5 · Set 2 · Q13

Keshav and Hitesh are partners sharing profits and losses in the ratio of $\displaystyle 3$ : 2. On 31st March, $\displaystyle 2023$ after division of profit of ₹ $\displaystyle 15,000$, their capitals were ₹ $\displaystyle 55,000$ and ₹ $\displaystyle 45,000$ respectively. During the year Keshav's drawings were ₹ $\displaystyle 1,500$ at the beginning of each quarter and Hitesh withdrew ₹ $\displaystyle 9,000$ on 1st November, 2022. After the final accounts have been prepared, it was discovered that interest on capital @ $\displaystyle 5$% p.a. and interest on drawings @ $\displaystyle 8$% p.a. have not been taken into consideration. Amount of interest to be charged on Hitesh's drawings will be :