[CBSE] Q. 6 Solution of Fundamentals of Partnership Firms TS Grewal Book (2025-26)

Solution of Question number 6 of the Fundamentals of partnership firm chapter TS Grewal Book CBSE 2025-26

Sita and Geeta are partners in a firm sharing profits in the ratio of 3:2. They had given a loan to the firm of ₹ 30,000 in their profit sharing ratio on 1st October 2024. The partnership 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.

Answer:-

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Note:- In the absence of any information about the interest on the partner’s loan. The Provisions of the Indian Partnership Act, 1932, apply, and Interest @ 6% p.a. is allowed.

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