Step 1: Understanding the Question:
The problem involves calculating the interest due to a partner when no formal partnership deed exists. It requires applying the default rules of the Indian Partnership Act, 1932.
The scenario includes both additional capital and a partner's loan, each subject to different legal treatments.
Step 2: Key Formulas and Approach:
The approach follows the provisions of the Indian Partnership Act, 1932, applicable in the absence of a deed:
1. Interest on Capital = Nil.
2. Interest on Partner's Loan = 6% per annum.
Formula for Loan Interest:
\[ \text{Interest} = \text{Principal} \times \text{Rate} \times \frac{\text{Time (in months)}}{12} \]
Step 3: Detailed Explanation:
Treatment of Capital: Nisha introduced Rs. 5,00,000 as opening capital and another Rs. 1,00,000 on 1st June. However, since there is no Partnership Deed, the law states that no interest shall be paid on capital, regardless of the amount or duration. Therefore, interest on capital is Rs. 0.
Loan Details: Nisha provided a loan of Rs. 1,00,000 to the firm on 1st October, 2024. This is considered a debt of the firm, not capital.
Applicable Interest Rate: In the absence of an agreement, the Indian Partnership Act, 1932, mandates a fixed interest rate of 6% p.a. on partners' loans.
Time Period Calculation: The loan was given on 1st October, 2024. Assuming the financial year ends on 31st March, 2025, the period for which interest is calculated is 6 months (October, November, December, January, February, March).
Final Calculation:
\[ \text{Interest on Loan} = 1,00,000 \times \frac{6}{100} \times \frac{6}{12} \]
\[ \text{Interest on Loan} = 6,000 \times 0.5 = 3,000 \]
Total Interest: Since interest on capital is nil, the total interest payable is only the interest on the loan, which is Rs. 3,000.
Step 4: Final Answer:
The interest payable to Nisha is solely the interest on her loan, calculated at 6% for 6 months, amounting to Rs. 3,000.
The correct option is (C).