Question

5. (Interest on Loan) Rajan and Sunil are partners in a chemist shop in 3 ; 1 ratio. Rajan
gave a loan of 2,00,000 to the firm on 1st April 2015 which the firm returned on 31st
December, 2015. Sunil also gave 31,00,000 as loan to the firm on 1st November, 2015.
Meanwhile, wife of Rajan gave a loan 50,000 to the firm @ 10% on Ist January, 2016.
Partnership deed is silent on interest on loan of a partner. Calculate interest on loan of
Partner and Mrs. partner.
[Ans. Interest on Loan of Mrs Raja 1250 (3 months); Interest : Rajan 19000 (9 months);
Sunil 2500 (5 months)]​

Answer 1

Answer:

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