Read the following passage and answer the question.

Rita, Sudha, and Nitu decided to do transport business in partnership. For this purpose, they did not prepare any deed. They introduced their capitals, ₹50,000, ₹60,000 and ₹40,000 respectively and commenced business from 1st April. On the same date, Nitu also provided ₹15,000 as a loan to the firm on the requirement. At the end of the first financial year, the firm earned a net profit of ₹10,000 (excluding interest on loan). Nitu asked for interest on the loan at 10% p.a, while Sudha asked for interest on capital at 5% p.a. But for both terms, Rita did not agree. 

What will be paid as interest on Loan to Nitu?

₹900

The correct answer is option 2- ₹900.

Interest on loan = 6% of 15,000
                       = 900

If a partner has provided a loan to the partnership for business purposes, they are entitled to receive interest on the loan amount at a rate of 6 percent per annum.