Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March 2019 nbs...........

Following is the extract of the Balance Sheet of Neelkant and Mahadev as on 31st March, 2019. (5 MARKS)

**BALANCE SHEET**
as at 31st March, 2019
Liabilities	Rs	Assets	Rs
Neelkant's Capital	10,00,000	Sundry Assets	30,00,000
Mahadev's Capital	10,00,000
Neelkant's Current A/c	1,00,000
Mahadev' Current A/c	1,00,000
Profit and Loss Appropriation A/c (2018-19)	8,00,000
	30,00,000		30,00,000

During the year, Mahadev's drawings were Rs 30,000. Profits during the year ended 31st March, 2019 is Rs 10,00,000. Calculate interest on capital @ 5% p.a. for the year ending 31st March, 2019.

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