Question : On 1 January 2020, a partner advanced a loan of Rs.1,00,000 to the firm. In absence of a deed, interest on loan payable on 31st March 2020 will be:

Option 1: Nil

Option 2: Rs.1,500

Option 3: Rs.6,000

Option 4: Rs.3,000

Question : In the absence of partnership deed, the following rule will apply:

Option 1: No interest on capital 

Option 2: Profit sharing in capital ratio

Option 3: Profit based salary to working partner 

Option 4: 9% Interest on drawing

Question : Ram and Mohon are Partners with a capital of Rs 37500 and Rs 22,500, respectively. Interest Payable on capital @ 10% p.a. Find the interest on capital credited to both partners when the Profit earned by the firm is Rs 3600.

Option 1: Rs 3,750, Rs 2,250.

Option 2: Rs 1,800, Rs 1,800

Option 3: Rs 2,250, Rs 1,350

Option 4: None of these.

Question : P, Q and R were partners in a firm sharing profits in 2:2:1 ratio.The Partnership Deed provided that on the death of a partner his executors will be entitled to the following:
(a) Interest on Capital @ 12% p.a.
(b) Interest on Drawings @ 18% p.a.
(c) Salary of Rs. 12,000 p.a.
(d) Share in the profit of the firm (up to the date of death) on the basis of previous year's profit.
P died on 31st May, 2020. His capital was Rs. 80,000 . He had withdrawn Rs. 15,000 and interest on his drawings was calculated as Rs. 1,200. Profit of the firm for the previous year ended 31st March, 2020 was Rs. 30,000.
Question:
Interest on Drawings is

Option 1: Rs 1,200

Option 2: Rs 1,800

Option 3: Rs 300

Option 4: None of the above

Question : P, Q and R were partners in a firm sharing profits in 2:2:1 ratio.The Partnership Deed provided that on the death of a partner his executors will be entitled to the following:
(a) Interest on Capital @ 12% p.a.
(b) Interest on Drawings @ 18% p.a.
(c) Salary of Rs. 12,000 p.a.
(d) Share in the profit of the firm (up to the date of death) on the basis of previous year's profit.
P died on 31st May, 2020. His capital was Rs. 80,000 . He had withdrawn Rs. 15,000 and interest on his drawings was calculated as Rs. 1,200. Profit of the firm for the previous year ended 31st March, 2020 was Rs. 30,000.
Question:
Interest on Drawings is

Option 1: Rs 1,200

Option 2: Rs 1,800

Option 3: Rs 300

Option 4: None of the above