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| A, B and C are partners in a partnership firm sharing profits and loss in ratio of 2:2:1. Their fixed capitals are ₹1000000, ₹800000 and ₹700000 respectively. They withdrew some amount from the firm for their personal use. Partnership deed provide interest on drawings @10% p.a. but no interest on capital. Market rate of interest on capital in similar firm is 5% p.a. C also gives a loan of ₹100000 to the firm without any agreement of interest whereas market rate of interest on loan is 12% p.a. |
| What will be the interest on loan of C? |
₹12000 ₹10000 ₹6000 zero |
| ₹6000 |
| No agreement is there so interest will be given @ 6% p.a. = 100000*6/100= ₹6000 |
