Question

Naisha, Mansi and Aakash were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 2. On 1st January, 2025, Aakash advanced a loan of ₹ 3,00,000 to the firm. In the absence of a partnership deed, the amount of interest on loan due to Aakash on 31st March, 2025 will be :

• A. ₹ 18,000
• B. ₹ 4,500
• C. ₹ 9,000
• D. ₹ 30,000

Hint:

In the absence of partnership deed:

• Interest on Partner's Loan \(\Rightarrow\) 6% p.a. (mandatory)
• Interest on Capital \(\Rightarrow\) No interest
• Interest on Drawings \(\Rightarrow\) No charge
• Profit sharing \(\Rightarrow\) Equal
• Salary/Commission \(\Rightarrow\) Not allowed

Always calculate interest on loan for the actual period, not the whole year!

Answer 1

The Correct Option is B