Question

1. A partner introduced additional capital of 30,000 and advanced a loan of 340,000 to the
firm at the beginning of the year. Partner will receive year's interest:
(A) 4,200
(B)*2.400
(C)Nil
(D) 1,800​

Answer 1

Answer:

The answer is (a) 4,200

Answer 2

The correct question is:  

    A partner introduced additional capital of Rs. 30,000 and also advanced a loan of 340,000 to the

firm at the beginning of the year. Partner will receive year's interest:

(A) 4,200

(B) 20400

(C) Nil

(D) 1,800  

Given: A partner advanced a loan of 340000 to the firm at the beginning of the year.  

To find:  Amount of interest received in year by partner.  

Solution:  

We know that no interest will be allowed on the capital of partners. So, there will be no interest charged on introducing the amount of additional capital of Rs. 30000.

Now, we have another amount. And that is, advanced a loan of rs 340000 to the firm at the beginning of the year. So, we can charge interest @6% p.a on Rs. 340000

   interest from loan = [340000 * 6%]

                   = 20400

So, Partner will receive interest Rs.20400 p.a