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Solution:- 1) In the absence of a partnership deed, the provisions of the Indian Partnership Act 1932 Apply. No Interest on Mahesh’s capital will be provided. 2) In the absence partnership deed, the provisions of the Indian Partnership Act 1932…

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Solution:- Partner’s Share in Divisible Profit. Atul’s Share = 1,20,000 × 3/5 = ₹ 72,000 Mithun’s Share = ₹ 1,20,000 × 2/5 = ₹ 48,000