Atul, Vipul and Prafful are partners in a firm with no partnership agreement. They invested
1,00,000, 75,000 and 50,000 as capital in the firm. The profit for the year was 2,50,000.
Prafful demands interest on loan of 20,000 advanced by him at the market rate of interest
which is 12% p.a. The amount of interest received by him will be
Answers
Answered by
0
Answer:
X-axis=(5,0) Y-axis =(0,5)
Comparing with (n,0) and (0,m)
n=5 and m=5
∴m+n=5+5=10
Answered by
0
Answer:
Interest recived by him will be ₹1200
Explanation:
when the partnership firm is without partnership deed, provision of Indian Partnership Act 1932 (IPA) applies.
in this case interest will be provided @6%p.a. according to IPA as there is no partnership deed.
Calculation:
interest on loan = Amount of loan * rate/100
= 20,000* 6/100 = 1,200
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