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Question
X and Y are partners in the ratio of 3 : 2. Their capitals are ₹ 2,00,000 and ₹ 1,00,000, respectively. Interest on capitals is allowed @ 8% p.a. Firm incurred a loss of ₹ 60,000 for the year ended 31st March 2024. Interest on Capital will be:
Options
X ₹ 16,000; Y ₹ 8,000
X ₹ 8,000; Y ₹ 4,000
X ₹ 14,400; Y ₹ 9,600
No interest will be allowed.
MCQ
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Solution
No interest will be allowed.
shaalaa.com
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