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  3. 12th Class
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  5. Fundamentals of Partnership

12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    On 1st January, 2019, a partner advanced a loan of Rs.10,000 to the firm. In the absence of agreement, interest on loan on 31st March, 2019 will be:

    A) Nil                      

    B) Rs.150

    C) Rs.300                  

    D) Rs.600

    Correct Answer: B

    Solution :

    [b] Rs.150
    Hint: Interest on Loan = 10,000 \[\times \frac{6}{100}\times \frac{3}{12}\]= Rs.150
     


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