Ramesh, Rahul and Raman are partners. Raman withdrew ₹ 20,000 per month in the middle of the month. Interest on drawings charged for the year was ₹ 7200. The rate of interest on drawings is
Ramesh, Rahul and Raman are partners. Raman withdrew ₹ 20,000 per month in the middle of the month. Interest on drawings charged for the year was ₹ 7200. The rate of interest on drawings is
a) 7% p.a.
b) 8% p.a.
c) 9% p.a.
d) 6% p.a.
Anurag Pathak Changed status to publish April 9, 2023
Ans – d)
Explanation:-
in the absence of a partnership deed, the Indian Partnership Act 1932 Applies. The interest on the partner’s loan to the firm is charged @ 6% p.a.
Anurag Pathak Changed status to publish April 4, 2023
