Mohan and Shyam are partners in a firm. Which statement among the below can be claimed valid if the Partnership Agreement is silent regarding the same.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Mohan contributed Rs. 20,000 and Shyam Rs. 50,000 as capital. Mohan wants an equal share in profits.
When the partnership agreement is silent, the Indian Partnership Act, 1932 decides. Under it, profits are shared equally whatever the capital, so Mohan’s claim is valid.
Why the other options are incorrect
Option (1) Mohan is an active partner. He wants a salary of Rs. 10,000 per year. — Incorrect. No salary is payable to a partner unless the deed provides for it, however active he is.
Option (2) Shyam had advanced a loan to the firm. He claims interest of @ 10% per annum. — Incorrect. A partner’s loan earns interest at 6% per annum under the Act, not 10%.
Option (4) Shyam wants interest on capital to be credited @ 6% per annum. — Incorrect. No interest on capital is allowed when the deed is silent; the 6% rate applies to loans.
NCERT (2026-27 edition):
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