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Question
Sweta and Tripti are partners sharing profits and losses in the ratio of 2 : 1 with capitals of ₹ 3,00,000 and ₹ 2,00,000.
If the partnership deed provides for interest on capital @ 9% p.a. and the loss for the year is ₹ 15,000, then Sweta’s share of interest on capital will be:
Options
₹ 27,000
₹ 9,000
₹ 10,000
Nil
MCQ
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Solution
Nil
Explanation:
Interest on capital is not allowed in the case of loss to the firm.
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