On 1st January, 2023, Abhishek, a partner, advanced a loan of ₹ 3,00,000 to the firm. In the absence of a partnership agreement, the amount of interest on the loan for the year ending 31\textsuperscript{st} March, 2023 will be:
When no partnership agreement exists, a partner's loan accrues 6% annual interest. The loan was issued on January 1, 2023, and the period concludes on March 31, 2023, resulting in a 3-month term. \[ \text{Interest} = 3,00,000 \times \frac{6}{100} \times \frac{3}{12} = ₹ 4,500. \] Therefore, the correct option is (B).