Gee and Ess are partners having fixed capitals of ₹ 3,00,000 each.

They have opening credit balances of ₹ 1,00,000 and ₹ 2,00,000 respectively in the Current Accounts.

Partnership Deed allows interest on capital and also allows and charges interest on Current Accounts @ 6% p.a.

Calculate the interest that will be allowed by the firm.

Anurag Pathak Changed status to publish April 14, 2023