Ajay, Binod and Chandra entered into partnership on 1st April 2019 with a capital of `3,00,000, `2,00,000 and `1,00,000 respectively. In addition to capital Chandra has advanced a loan of `1,00,000. Since they had no agreement to guide them, they faced following issues during and at the end of the year. 1. Ajay wanted interest on capital to be provided @8% pa but Binod and Chandra did not agree. 2. Chandra wanted that interest on loan be paid to him @ 10% pa but Ajay and Binod wanted to pay @ 5% pa. 3. Ajay and Binod demanded to share profits in the ratio of their capital contribution, Chandra is not in agreement with this proposal. 4. Binod, being working partner, demands a lump sum payment of `40,000 as remuneration for which other others partners are not in agreement. You are required to suggest and help them resolve these issues.
Answers
Answer:
Fermat’s Theorem
The principle of least time: Light always takes the quickest path between any two points (which may not be the shortest path).
Rectilinear propagation of light and the law of reflection [∠i=∠r] can be validated by Fermat’s principle of least time.
Plane mirror
Any flat and polished surface that has almost no irregularities on its surface that reflect light is called as a plane mirror.
Characteristics of images
Images can be real or virtual, erect or inverted, magnified or diminished. A real ima
In the absence of partnership deed, the provision of Partnership Act 1932 will apply in the following matters:
Explanation:
1. Interest on Capital is not payable to Ajay.
2. Interest on loan by partner will be paid 6% p.a. Therefore, Chandra will get interest Rs.6,000. (1,00,000 x 6/100)
3. Profits will be shared equally between partners.
4. No salary/ remuneration is payable payable to partner. Therefore, Binod will not get salary.