Following is the extract of the Balance Sheet of, Neelkant and Mahdev as on March 31, 2017: Balance Sheet as at March 31, 2017 Amount Amount Liabilities Rs Assets Rs Neelkant’s Capital 10,00,000 Sundry Assets 30,00,000 Mahadev’s Capital 10,00,000 Neelkant’s Current Account 1,00,000 Mahadev’s Current Account 1,00,000 Profit and Loss Apprpriation (March 2017) 8,00,000 30,00,000 30,00,000 During the year Mahadev’s drawings were Rs 30,000. Profits during 2017 is Rs 10,00,000. Calculate interest on capital 5% p.a for the year ending March 31, 2017.