Question

4. Bose Sarkar and Chatterjee are partners in a firm and do not have a Partnership Deed Bose introduced
further capital of 2,00,000 on 1st October, 2019. Whereas Chatterjee took a loan of 50,000 from the firm
on 1st October, 2019. Disputes have arisen among them on the following issues:
b) Sarkar desires that his son Deep should be admitted as partner and he will give him half of his share.
the lending rate of the banks, which is 12% p.a.
a) Bose demands interest @ 10% p.a. one 2,00,000 being his extra capital
Bose and Chatterjee do not agree.
id Bose and Sarkar are of the view that Chatterjee should be charged interest on loan from the firm at​

Answer 1

Answer:

Interest Payable to A - Rs.30,000×3/5×6/100×6/12=Rs.540

Interest Payable to B - Rs.30,000×2/5×6/100×6/12=Rs.360.

According to the Indian Partnership Act, 1932, interest @ 6% p.a. is payable on the amount of loan given by partners. In the present case, interest will be payable for 6 months, i.e., from 1st October, 2017 to 31st March, 2018.

I think it is the exact answer

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