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A partner introduced additional capital of rs30,000 and advanced a loan of rs40,000 to the firm at the beginning of the year. Partner will receive year’s interest:
rs4,200
rs2,400
Nil
rs1,800
- When a partner introduces additional capital or gives a loan, the interest on the loan is calculated based on the loan amount.
- The loan amount provided is Rs 40,000.
- The correct option depends on the interest rate applied to the loan.
- Assuming an interest rate of 6%, the interest for a year would be Rs 2,400.
- Option 2: Rs 2,400 - This is correct if the interest rate is 6%.
- Option 1: Rs 4,200 - This would imply an interest rate of 10.5%.
- Option 3: Nil - This would mean no interest is paid.
- Option 4: Rs 1,800 - This would suggest an interest rate of 4.5%.
By: santosh ProfileResourcesReport error
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