Kashish and Harish are partners in a firm sharing profits in the ratio of 3 : 2 with capitals of ₹ 5,00,000 each. Kashish was given loan of ₹ 2,00,000 on 1st October
Solution:- Case – I Note:- Interest is not charged on the Interest on Loan to partners if it is not mentioned in the partnership deed and not agreed upon among partners. Case – II Note:- If the rate of Interest…