Double Entry Book Keeping Ts Grewal 2016 for Class 12 Commerce Accountancy Chapter 2 - Partnership Accounts

Answer:

Yes, A has contravened the provisions of Partnership law. In the absence of Partnership deed, the following  provisions of Indian Partnership Act, 1932 applies:

Answer:

In the absence of Partnership deed:

Answer:

Working Note:

$\mathrm{Interest} \mathrm{on} \mathrm{X}\text{'}\mathrm{s} \mathrm{Capital} = 50,00,000 \times \frac{8}{100}=\mathrm{Rs} 4,00,000$
Salary to Y @ 20,000 p.m = Rs 2,40,000

Total appropriation to be made = 4,00,000 + 2,40,000 = Rs 6,40,000

Profit earned during the year = 2,00,000

Here, profit available for distribution (i.e. Rs 2,00,000) is less than the sum total of Interest on Capital and Salary (i.e. Rs 6,40,000).

Therefore, profit will be distributed in the ratio of Interest on Capital and Salary.

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{X}\text{'}\mathrm{s} \mathrm{Capital} : \mathrm{Y}\text{'}\mathrm{s} \mathrm{Salary} \\ 4,00,000 : 2,40,000 \\ \mathrm{Ratio} 10 : 6 \end{gathered}$$

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{X}\text{'}\mathrm{s} \mathrm{Capital} = 2,00,000 \times \frac{10}{16}=\mathrm{Rs} 1,25,000 \\ \mathrm{Y}\text{'}\mathrm{s} \mathrm{Salary} = 2,00,000 \times \frac{6}{16}=\mathrm{Rs} 75,000 \end{gathered}$$

Note: The answer provided in the book is incorrect as interest on capital will only to be provided to X since he has contributed the capital amount.

Answer:

Calculation of Interest on Capital

Case (a) 

Where there is no clean agreement except for interest on capitals

Profit for the year ended = Rs 1,500

Total amount of interest = Rs 1,800

Here, total amount of interest on capital is more than the profit available for distribution. Therefore, profit of Rs 1,500 is distributed between X and Y in the ratio of their interest on capital.

Case (b)

In case, there is a clear agreement that the interest on capital will be allowed even if the firm has incurred loss, then the whole amount of interest on capital is to be allowed to the partners.

Total Profit of the firm = Rs 1,500

Total amount of Interest on Capital = Rs 1,800 (i.e. Rs 1,200 + Rs 600). Therefore, loss to the firm amounts to Rs 300. This loss is to shared by X and Y in their profit sharing ratio that is 2 : 3. 

Answer:

(i) When Partnership deed is silent about the treatment of Interest on Capital:
 

(ii) When interest is a charge as per the Partnership Deed

 

Working Notes: Calculation of Interest on Capital
$\begin{array}{l}\text{X}=8,00,000\times \frac{6}{100}=\text{Rs }48,000\\ \text{Y}=\text{4},00,000\times \frac{6}{100}=\underline{\underset{}{\text{Rs 2}4,000}}\\ \text{Total Rs 72,000}\end{array}$

(i)  Since, partnership deed is silent regarding the treatment of interest on capital, therefore, it will be treated as an appropriation out of profits and interest will be allowed to extent of available profits.
$$\begin{gathered} \text{X}=\frac{48,000}{72,000}\times 60,000=\text{Rs }40,000 \\ \text{Y}=\frac{24,000}{72,000}\times 60,000=\text{Rs 2}0,000 \end{gathered}$$

(ii) Interest is to be treated as a charge against profits, thus, full amount of interest on capital is to be provided.

Answer:

Interest on capital is calculated on the opening balance of partner’s capital.

Calculation of Capital balance at the beginning

Answer:

Assuming the capitals of the partners are fixed, interest on capital will be calculated on their fixed capital (i.e. Rs 24,000 for Ram and Rs 18,000 for Mohan)

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{Ram}\text{'}\mathrm{s} \mathrm{Capital} = 24,000 \times \frac{5}{100}=\mathrm{Rs} 1,200 \\ \mathrm{Interest} \mathrm{on} \mathrm{Mohan}\text{'}\mathrm{s} \mathrm{Capital} = 18,000 \times \frac{5}{100}= \mathrm{Rs} 900 \end{gathered}$$

Answer:

Calculation of Interest on B’s Capital

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{B}\text{'}\mathrm{s} \mathrm{Capital} = \mathrm{Capital} \mathrm{at} \mathrm{the} \mathrm{beginning} \times \frac{\mathrm{Rate}}{100} \\ = 50,000 \times \frac{6}{100}= \mathrm{Rs} 3,000 \end{gathered}$$

Answer:

Calculation of opening capital balance
 

$$\begin{gathered} \text{Interest on X’s Capital }=9,000\times \frac{5}{100}=\text{Rs }450 \\ \text{Interest on Y’s Capital }=10,000\times \frac{5}{100}=\text{Rs 500} \end{gathered}$$

Answer:

Calculation of Interest on Capital

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{Gee}\text{'}\mathrm{s} \mathrm{Capital}=3,00,000\times \frac{6}{100}=\mathrm{Rs} 18,000 \\ \mathrm{Interest} \mathrm{on} \mathrm{Ess}\text{'}\mathrm{s} \mathrm{Capital}=3,00,000\times \frac{6}{100}=\mathrm{Rs} 18,000 \end{gathered}$$

Calculation of Interest on Current Account Balances

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{Gee}\text{'}\mathrm{s} \mathrm{Current} \mathrm{Account} \mathrm{Balance}=1,00,000\times \frac{6}{100}=\mathrm{Rs} 6,000 \\ \mathrm{Interest} \mathrm{on} \mathrm{Ess}\text{'}\mathrm{s} \mathrm{Current} \mathrm{Account} \mathrm{Balance}=2,00,000\times \frac{6}{100}=\mathrm{Rs} 12,000 \end{gathered}$$

Answer:

Calculation of Interest on Capital

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{Emm}\text{'}\mathrm{s} \mathrm{Capital}=5,00,000\times \frac{6}{100}=\mathrm{Rs} 30,000 \\ \mathrm{Interest} \mathrm{on} \mathrm{EII}\text{'}\mathrm{s} \mathrm{Capital}=6,00,000\times \frac{6}{100}=\mathrm{Rs} 36,000 \end{gathered}$$

Calculation of Interest on Current Account Balances

$$\begin{gathered} \mathrm{Interest}\mathbf{ }\underline{\mathit{a}\mathit{l}\mathit{l}\mathit{o}\mathit{w}\mathit{e}\mathit{d}} \mathrm{on} \mathrm{Emm}\text{'}\mathrm{s} \mathrm{Current} \mathrm{Account} \mathrm{Balance}=1,00,000\times \frac{6}{100}=\mathrm{Rs} 6,000 \left(Credit\right) \\ \mathrm{Interest} \underline{\mathit{c}\mathit{h}\mathit{a}\mathit{r}\mathit{g}\mathit{e}\mathit{d}} \mathrm{on} \mathrm{EII}\text{'}\mathrm{s} \mathrm{Current} \mathrm{Account} \mathrm{Balance}=1,00,000\times \frac{6}{100}=\mathrm{Rs} 6,000 \left(Debit\right) \end{gathered}$$

Answer:

Calculation of Interest on Capital

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{A}\text{'}\mathrm{s} \mathrm{Capital}=2,00,000\times \frac{5}{100}=\mathrm{Rs} 10,000 \\ \mathrm{Interest} \mathrm{on} \mathrm{B}\text{'}\mathrm{s} \mathrm{Capital}=2,50,000\times \frac{5}{100}=\mathrm{Rs} 12,500 \end{gathered}$$

Calculation of Opening Current Account Balances

For A

For B

Answer:

In this question, date of drawings made by the partners is not given. Therefore, interest on drawings is calculated on average basis for a period of six months.

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{Ram}\text{'}\mathrm{s} \mathrm{Drawings} = 6,000 \times \frac{6}{100}\times \frac{6}{12}= \mathrm{Rs} 180 \\ \mathrm{Interest} \mathrm{on} \mathrm{Mohan}\text{'}\mathrm{s} \mathrm{Drawings} = 4,000 \times \frac{6}{100}\times \frac{6}{12}= \mathrm{Rs} 120 \end{gathered}$$

Answer:

Answer:

Answer:

Total Drawings = Rs 30,000 (2,500 × 12)

(i) If drawings are made in the beginning of each month
$\begin{array}{l}\text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{\text{6.5}}{\text{12}}\\ \text{Interest on Drawings = }30,000\times \frac{6}{100}\times \frac{6.5}{12}=\text{Rs }975\end{array}$

(ii) If drawings are made in the middle of each month
$\begin{array}{l}\text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{\text{6}}{\text{12}}\\ \text{Interest on Drawings = 30,000}\times \frac{6}{100}\times \frac{6}{12}=\text{Rs }900\end{array}$

(iii) If drawings are made in the end of each month
$\begin{array}{l}\text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{5.5}{\text{12}}\\ \text{Interest on Drawings = 30,000}\times \frac{6}{100}\times \frac{5.5}{12}=\text{Rs }825\end{array}$

Answer:

(i) If drawings are made in the beginning of each quarter
Total Drawings = Rs 48,000 (12,000 × 4)
$\begin{array}{l}\text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{7.5}{\text{12}}\\ \text{Interest on Drawings = 48,000}\times \frac{5}{100}\times \frac{7.5}{12}=\text{Rs }1,500\end{array}$

(ii) If drawings are made at the end of each quarter
Total Drawings = Rs 48,000 (12,000 × 4)
$\begin{array}{l}\text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{4.5}{\text{12}}\\ \text{Interest on Drawings = 48,000}\times \frac{5}{100}\times \frac{4.5}{12}=\text{Rs 9}00\end{array}$

(iii) If drawings are made in the middle of each quarter
Total Drawings = Rs 72,000 (18,000 × 4)
$\begin{array}{l}\text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{6}{\text{12}}\\ \text{Interest on Drawings = 72,000}\times \frac{5}{100}\times \frac{6}{12}=\text{Rs 1,80}0\end{array}$

Answer:

$$\begin{gathered} \text{Total Drawings = 10,000}\times \text{6 = Rs 60,000} \\ \begin{array}{l}\text{ X}\\ \text{Interest on Drawings made in the beginning = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{3.5}{\text{12}}\\ \text{Interest on X's Drawings made in the beginning = 60,000}\times \frac{5}{100}\times \frac{3.5}{12}=\text{Rs }875\\ \text{ Y}\\ \text{Interest on Drawings made at the end = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{2.5}{\text{12}}\\ \text{Interest on Y's Drawings made at the end = 60,000}\times \frac{5}{100}\times \frac{2.5}{12}=\text{Rs }625\\ \text{ Z}\\ \text{Interest on Drawings made in the middle = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{3}{\text{12}}\\ \text{Interest on Z's Drawings made in the middle = 60,000}\times \frac{5}{100}\times \frac{3}{12}=\text{Rs }750\end{array} \end{gathered}$$

Answer:

Calculation of Interest on Capital

Calculation of Interest on Drawings

Interest on A’s Drawings

Interest on B’s Drawings

Total Drawings = 300 ×12 = Rs 3,600

Average Period = 5.5 months

Answer:

Case I:
$\begin{array}{l}\text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{6}{\text{12}}\\ \text{Interest on Drawings = 60,000}\times \frac{5}{100}\times \frac{6}{12}=\text{Rs }1,500\end{array}$

Case II:
$$\begin{gathered} \text{Total Drawings = 5,000}\times 12\text{ = Rs 60,000} \\ \text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100}\text{ × }\frac{6}{\text{12}} \\ \text{Interest on Drawings = 60,000}\times \frac{5}{100}\times \frac{6}{12}=\text{Rs }1,500 \end{gathered}$$
Note: Since date of drawings is not given, thus, interest has been calculated for an average period of 6 months.

Answer:

$$\begin{gathered} \text{Interest on Drawings = Total Drawings × }\frac{\text{Rate}}{100} \\ \text{Interest on Drawings = 5,00,000 }\times \frac{5}{100}=\text{Rs }25,000 \end{gathered}$$
Note: Since p.a. word is not suffixed with the rate of interest on drawings, thus, time factor is not considered while calculating interest on drawings.

Answer:

Profit and Loss Appropriation Account for the year ended 31st March, 2016
Dr.				Cr.
Particulars		Amount Rs	Particulars	Amount Rs
Salary:			Profit and Loss A/c (Net Profit)	8,40,000
X’s Capital A/c	2,40,000		(5,50,000 + 2,40,000 + 50,000 )
Y’s Capital A/c	50,000	2,90,000
Commission:
X	55,000
Y	45,000	1,00,000
Profit transferred to:
X’s Capital A/c	2,25,000
Y’s Capital A/c	2,25,000	4,50,000
		8,40,000		8,40,000

Answer:

Working Notes:
WN 1: Calculation of Commission
Profit after Interest on Capital and Salary= 1,04,000 - 16,000 - 25,000 = Rs 63,000
$\text{Commission }=63,000\times \frac{5}{105}=\text{Rs }3,000$

WN 2: Calculation of Charity
Profit after Interest on Capital, Salary and Commission = 1,04,000 - 16,000 - 25,000 - 3,000 = Rs 60,000
$\text{Donation to Charity}=60,000\times \frac{20}{100}=\text{Rs }12,000$

WN 3: Distribution of profit among X and Y
Profit to be distributed = 1,04,000 - 16,000 - 25,000 - 3,000 - 12,000 = Rs 48,000
Share of X and Y individually = Rs 24,000 (each)

Answer:

Answer:

Working Notes:

WN 1 Calculation of Partners’ Commission

Partners’ Commission = 20% on Net Profit after such commission

This commission is to be shared by the partners in the ratio of 2 : 3 : 2 : 3

WN 2 Calculation of Profit Share of each Partner

Profit available for Distribution = 1,80,000 − 30,000 = Rs 1,50,000

Profit sharing ratio = 4 : 3 : 2 : 1

Answer:

Amount advanced by the Partners = Rs 30,000

Profit sharing ratio = 3 : 2

Time Period (from October 01, 2015 to March 31, 2016) = 6 months

Interest rate = 6% p.a.

Calculation of Interest on Advances

Note: In the absence of a partnership agreement regarding rate of interest on loans and advances, interest is provided at 6% p.a.

Answer:

Answer:

Case 1: If the profits before interest for the year amounted to Rs 3,750
 

Case 2: If the profits before interest for the year amounted to Rs 2,250

 

Case 3: If the losses before interest for the year amounted to Rs 3,750

Working Notes: Calculation of Interest on Loan
$\begin{array}{l}\text{X = 60,000 × }\frac{\text{6}}{\text{100}}\text{ × }\frac{\text{6}}{\text{12}}\text{ = Rs 1,800}\\ \text{Y = 30,000 × }\frac{\text{6}}{\text{100}}\text{ × }\frac{\text{6}}{\text{12}}\text{ =Rs 900}\end{array}$
Rate of interest on loan has not been provided in the question, thus, as per Indian Partnership Act, 1932 interest has been calculated @ 6% p.a.

Answer:

(b) Fixed

Working Notes:
WN 1: Calculation of Transfer to Reserve
$\text{Reserve = 3,13,437 }\times \frac{20}{100}=\text{Rs }62,687$

WN 2: Calculation of Interest on Drawings
When the date of withdrawal is not given interest on drawings is calculated for 6 months:
$$\begin{gathered} \text{A = 1,00,000 × }\frac{10}{100}\times \frac{6}{12}\text{ = Rs 5,000} \\ \text{B = 1,25,000 × }\frac{10}{100}\times \frac{6}{12}\text{ = Rs 6,250} \end{gathered}$$

WN 3: Calculation of Distribution of Profits
Net Distributable Profits = 3,13,437 + 11,250 – 42,000 – 62,687 – 1,50,000 – 17,500 = Rs 52,500
Ratio between A and B is 4 : 3
$\begin{array}{l}\text{A = 52,500 × }\frac{\text{4}}{\text{7}}\text{ = Rs 30,000}\\ \text{B = 52,500 × }\frac{\text{3}}{\text{7}}\text{ = Rs 22,500}\end{array}$

Answer:

Working Notes:

WN 1 Salary to Z has not been debited to Profit and Loss Appropriation Account. This is because Profit of Rs 4,00,000 is given after adjusting the Z’s salary.

WN 2 Calculation of Interest on Capital

WN 3 Calculation of Profit Share of each Partner

Divisible of Profit after Interest on Capital = Rs 4,00,000 − Rs 1,25,000 = Rs 2,75,000

Profit sharing ratio = 2 : 2 : 1

Answer:

Working Notes:
WN 1: Calculation of Interest on Loan
$\text{Y}=40,000\times \frac{6}{100}=\text{ Rs 2},400$
Interest on Loan is a charge against profit therefore net profit after deducting interest on loan amount is shown in Profit and Loss Appropriation Account. Also, Interest on Loan is to be shown in Partners’ Loan Account and hence it is not credited to Partners’ Current Account.

WN 2: Calculation of Interest on Drawings (at the end of each month)
$$\begin{gathered} \text{X}=1,44,000\times \frac{10}{100}\times \frac{5.5}{12}=\text{Rs }6,600 \\ \text{Y}=\text{96},000\times \frac{10}{100}\times \frac{5.5}{12}=\text{Rs 4},400 \\ Z=\text{96},000\times \frac{10}{100}\times \frac{5.5}{12}=\text{Rs 4},400 \end{gathered}$$

WN 3: Calculation of Interest on Capital

Answer:

Working Note:

Calculation of Interest on Capital

Answer:

Working Notes:

WN 1 Calculation of Interest on Capital

WN 2 Calculation of Interest on Drawings

WN 3 Calculation of Amount to be transferred to Reserve

Amount for Reserve = 10% of Divisible Profit

Divisible Profit = Profit + Interest on Drawings − Interest on Capital

= 68,460 + 540 − 4,500 = Rs 64,500

WN 4 Calculation of Profit Share of each Partner

Profit available for Distribution = 68,460 + 540 − 4,500 − 6,450 = Rs 58,050

Profit sharing ratio = 2 : 1

Answer:

Working Notes:

WN 1 Calculation of Interest on Capital

WN 2 Calculation of Interest on Drawings

WN 3 Calculation of Profit Share of each Partner

Profit available for Distribution = 55,000 + 147.50 − 4,000 − 10,800 = Rs 40,347.50

Profit sharing ratio = 3 : 2

Answer:

Working Notes:

WN 1 Calculation of Interest on Capital

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{P}\text{'}\mathrm{s} \mathrm{Capital} = 40,000\times \frac{5}{100}=\mathrm{Rs} 2,000 \\ \mathrm{Interest} \mathrm{on} \mathrm{Q}\text{'}\mathrm{s} \mathrm{Capital} = 30,000\times \frac{5}{100}=\mathrm{Rs} 1,500 \\ \mathrm{Interest} \mathrm{on} \mathrm{R}\text{'}\mathrm{s} \mathrm{Capital} = 30,000\times \frac{5}{100}=\mathrm{Rs} 1,500 \end{gathered}$$

WN 2 Calculation of Profit Share of each Partner

Profit available for distribution = 21,000 − 5000 = Rs 16,000

1. Distribution of first Rs 10,000 (50%, 30% and 20%)

2. Distribution of Remaining Profit i.e. Rs 6,000 (16,000 − 10,000) equally

Therefore,

Answer:

WN 1: Calculation of Interest on Capital
$\text{P}=30,000\times \frac{6}{100}=\text{Rs }1,800$
$\begin{array}{l}\text{For Q}\\ \text{Interest on Capital for 9 months =40,000×}\frac{\text{6}}{\text{100}}\text{×}\frac{\text{9}}{\text{12}}\text{=Rs 1,800}\\ \text{Add: Interest on Capital for 3 months = 36,000×}\frac{\text{6}}{\text{100}}\text{×}\frac{\text{3}}{\text{12}}\text{=Rs 540}\\ \text{Total Interest on Capital = Rs 2,340}\end{array}$

Total Interest on Capital = 1,800 + 540 = Rs 2,340

$\begin{array}{l}\text{For R}\\ \text{Interest on Capital for 11 months = }24,000\times \frac{6}{100}\times \frac{11}{12}=\text{Rs }1,320\\ \text{Add: Interest on Capital for 1 month = }28,000\times \frac{6}{100}\times \frac{1}{12}=\text{Rs }140\\ \text{Total Interest on Capital = Rs 1,460}\end{array}$

WN 2: Calculation of Interest on Drawings

Answer:

Working Notes:

WN 1 Calculation of Interest on Capital

$$\begin{gathered} \mathrm{Interest} \mathrm{on} \mathrm{A}\text{'}\mathrm{s} \mathrm{Capital} = 1,50,000 \times \frac{6}{100}=9,000 \\ \mathrm{Interest} \mathrm{on} \mathrm{B}\text{'}\mathrm{s} \mathrm{Capital} = 90,000 \times \frac{6}{100}=5,400 \end{gathered}$$
 

WN 2 Calculation of Commission to Partners

$$\begin{gathered} \mathrm{Commission} \mathrm{to} \mathrm{A} = 2\% \mathrm{on} \mathrm{Turnover} \\ = \frac{2}{100}\times 9,00,000 = \mathrm{Rs} 18,000 \end{gathered}$$

Commission to B = 5% on Profits after all Expense including such Commission

Profits after all expense = 1,50,000 − 14,400 − 18,000 − 18,000 = Rs 99,600

$$\begin{gathered} \mathrm{Commission} \mathrm{to} \mathrm{B} = \mathrm{Profit} \mathrm{after} \mathrm{all} \mathrm{Expenses} \times \frac{\mathrm{Rate}}{100 + \mathrm{Rate}} \\ = 99,600 \times \frac{5}{105}= \mathrm{Rs} 4,743 \end{gathered}$$

WN 3 Calculation of Profit Share of each Partner

Profit available for Distribution = 1,50,000 − 14,400 − 18,000 −18,000 − 4,743 = Rs 94,857

Profit sharing ratio = 3 : 1

$$\begin{gathered} \mathrm{A}\text{'}\mathrm{s} \mathrm{Profit} \mathrm{Share} = 94,857 \times \frac{3}{4}=71,143 \\ \mathrm{B}\text{'}\mathrm{s} \mathrm{Profit} \mathrm{Share} = 94,857 \times \frac{1}{4}=23,714 \end{gathered}$$

Answer:

Working Notes:

WN 1: Calculation of Interest on Drawings
$$\begin{gathered} \text{Interest on X's Drawings }=\text{ (}3,500\times 12)\times \frac{10}{100}=\text{Rs }4,200 \\ \text{Interest on Y Drawings }=\text{ (}3,000\times 12)\times \frac{10}{100}=\text{Rs }3,600 \\ \text{Interest on Z Drawings }=\text{ (2,5}00\times 12)\times \frac{10}{100}=\text{Rs }3,000 \end{gathered}$$

Interest on Drawings is calculated without considering Time factor as the rate of interest given in the question doesn’t include the word “per annum”.

WN 2: Calculation of Commission to X
 
Net Distributable Profit = 3,88,300 – 50,000 – 37,500 – 1,00,000 = Rs 2,00,800
$\text{Commission }=2,00,800\times \frac{10}{110}=\text{ Rs }18,255$

Answer: