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Vinod and yuvraj are partners in …

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Vinod and yuvraj are partners in a firm without a partnership deed.vinods capital is rs10000 and yuvrajs capital is rs14000. Yuvraj has advanced a loan of rs5000 and claims intrest @12%p.a.on it .state with reasons whether his claim valid or not?

    • Posted by Sonu Susan 8 years, 3 months ago

    CBSE > Class 12 > Accountancy
    • 2 answers

    Ravi Rajput 8 years, 3 months ago

    No he is wrong because in absence of partnership deed , interest on loan is agreed 6%pa according to provision of partnership act 1932

    0Thank You

    Rahul Singh 8 years, 3 months ago

    No,Yuvraj is wrong he only get 6% PA because partnership act 2013 stated without any partnership deed only 6% int payable on partner loan.

    3Thank You

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