Bani, Rani and Mani are partners sharing profits and losses in the ratio of 3:2:1. Bani and Mani have granted loans to the firm on 1st October, 2018 of 2,00,000 and 3,00,000 respectively. ... Interest on loans is yet to be paid as on 31st March, 2019.
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M and N are partners in a firm. M has given a loan of Rs. 8,000 to the firm on 1st July, 2017. The partnership deed is silent upon the question of provision of interest on partner's loan. Compute the amount of interest payable on the loan advanced by M to the firm, assuming the books are closed on 31st March each year.
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