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AandB are partners in firm sharing profits in the ratio of 3:2 they had advanced to the firm Rs. 30,000 as a loan in their profit- sharing ratio on 1s

Monjur Alahi

AandB are partners in firm sharing profits in the ratio of 3:2 they had advanced to the firm Rs. 30,000 as a loan in their profit- sharing ratio on 1st October , 2018 the parnership Deed is silent on interest on loans from partners compute interest payable by the firm to the partners assuming the firm closes its books every year on 31st March .


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Salim Ahmed Kawsar

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interest payable to A -Rs. A-Rs. `xx`3/5`xx`6/10 `xx`6/12=Rs. 540,
interest payable to B-Rs. 30,000`xx`2/5`xx`6/10 =Rs. 360.
Hint :- According to the partnership Act 1932 interest @6% p.a payable on the amount of loan given by partners in the present case interest will be payable for 6 months i.e., from 1st October 2018 to March ,2019

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