Multiple choice

If the amount of interest on 12% investment shown as income in income and expenditure account is Rs. 2400, what will be the investment shown in the balance sheet?

  1. Nil

  2. Rs. 2400

  3. Rs. 288

  4. Rs. 20000

  5. None of these

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Investment will be 2400 * 100/12 = Rs. 20000.