Question

Ashu and Nisha are partners having Opening Capitals of Rs. 5,00,000 each without a Partnership Deed. Nisha, on 1st June, 2024 introduced further capital of Rs. 1,00,000 and advanced loan of Rs. 1,00,000 to the firm on 1st October, 2024. Interest payable to Nisha will be:

• A. Rs. 39,000
• B. Rs. 36,000
• C. Rs. 3,000
• D. Nil

Hint:

Without a Partnership Deed: \[ \text{Interest on Capital} = 0 \] \[ \text{Interest on Partner's Loan} = 6% \text{ p.a.} \] under the Indian Partnership Act, 1932.

Answer 1

The Correct Option is C

Concept: In the absence of a Partnership Deed, the provisions of the Indian Partnership Act, 1932 apply. According to the Act:
• No interest is allowed on partners' capital.
• Interest on partner's loan is allowed at \(6%\) per annum.

Step 1: Calculate interest on additional capital.
Additional capital introduced: \[ Rs. 1,00,000 \] Since there is no Partnership Deed: \[ \text{Interest on capital} = 0 \] Thus: \[ \boxed{Rs. 0} \]

Step 2: Calculate interest on loan advanced.
Loan advanced on: \[ 1^{st} \text{ October, 2024} \] Loan amount: \[ Rs. 1,00,000 \] Interest rate under Partnership Act: \[ 6% \text{ per annum} \] Period from October 1 to March 31: \[ 6 \text{ months} \] Interest: \[ = \frac{1,00,000 \times 6 \times 6}{100 \times 12} \] \[ = Rs. 3,000 \]

Step 3: Compute total interest payable.
\[ \text{Interest on capital} + \text{Interest on loan} \] \[ = 0 + 3,000 \] \[ = Rs. 3,000 \]

Step 4: Identify the correct option.
Thus, the interest payable to Nisha is: \[ \boxed{Rs. 3,000} \] Hence, the correct answer is: \[ \boxed{(C)} \]