X and Y are the partners in a firm, sharing profit losses in the ratio of 2:1. Mrs. X has given a loan of Rs 25,000 to the firm and Y has also given Rs 15,000 loan to the firm. The firm was dissolved and its assets were realized for Rs 30,000. How much amount Mrs X and Y would get as the repayment of their Loans?

Mrs X - Rs 20,000 and Y - Rs 10,000 Mrs X- Rs 25,000 and Rs Y - Rs 5,000 Mrs X - Rs 15,000 and Y - Rs 15,000 Mrs X - Rs 10,000 and Y - Rs 20,000

Mrs X- Rs 25,000 and Rs Y - Rs 5,000

According to section 48 of the Indian Partnership Act- 1932, outside liabilities are paid before payment of loan by partner. Hence. Mrs X's loan (Rs 25,000) will be paid first and then the remaining amount (Rs 5,000) will be paid towards the repayment of B's loan.