The opening balance of Prize Fund was Rs.32,800. During the year, donations received towards this fund amounted to Rs. 15,400; amount spent on prizes was Rs. 12,300 and interest received on prize fund investment was Rs.4,000. The closing balance of Prize Fund will be :
A. Rs. 56,500
B. Rs.64,500
C. Rs.39,900
D. Rs. 31,900
Answer:C
The opening balance of Prize Fund was Rs.32,800. During the year, donations received towards this fund amounted to Rs. 15,400; amount spent on prizes was Rs. 12,300 and interest received on prize fund investment was Rs.4,000. The closing balance of Prize Fund will be :
A. Rs. 56,500 B. Rs.64,500 C. Rs.39,900 D. Rs. 31,900