Question

There is no partnership deed and one of the partners has given an advance of Rs. 1 lakh to the firm. The partner will be allowed interest on this account at the rate of :
(A) 6% per annum
(B) 12% per annum
(C) 18% per annum
(D) Market rate

Answer 1

Answer:

D) Market rate

Explanation:

The firm cannot give rate according to his or her wish he has to give the rate according to the market value