| Esha and Navya are partners sharing profits in the ratio of 7:3. |
| Loan given by the Esha to the firm on 1st October 2020 .................................... 1,00,000 |
| Loan given by the firm to Navya on 1st December 2020 ....................................... 60,000 |
| Partnership deed provides interest on loan by Esha @10% p.a. and interest on Loan by Navya @8% p.a. |
| Profit for the year ended 31st March 2021 was Rs.2,400. |
| Profit/loss shared by the partners: |
A) Loss to Esha 1,400 and Navya Rs.600
B) Profit to Esha 420 and Navya Rs.180
C) Loss to Esha 700 and Navya Rs.300
D) Loss to Esha 280 and Navya Rs.120
Correct Answer: C
Solution :
Loss to Esha 700 and Navya Rs.300
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