The financial year 2019-20 runs from April 1, 2019 to March 31, 2020.
Sameer's capital changed during the year when he introduced additional capital on October 1, 2019. Therefore, interest needs to be calculated for two different periods:
Period 1: April 1, 2019 to September 30, 2019 (6 months)
Capital = Rs 15,00,000
Interest = 15,00,000×1005×126
Interest = Rs 37,500
Period 2: October 1, 2019 to March 31, 2020 (6 months)
Capital = Rs 15,00,000 + Rs 3,00,000 = Rs 18,00,000
Interest = 18,00,000×1005×126
Interest = Rs 45,000
Total Interest on Capital for Sameer for 2019-20:
Total = Rs 37,500 + Rs 45,000 = Rs 82,500
The admission of Ravi does not affect the interest calculation as interest is charged on the capital contributed by each partner, irrespective of admission or retirement during the year.