From the following information, calculate interest on Capital of C, a partner for the year ended 31st March, 2022.

C's Capital on 31/3/2022: Rs. 12,00,000

Profit credited to C for the year ended 31/3/2022: Rs. 3,00,000

Drawings made during the year: Rs. 1,00,000

Additional Capital introduced on 1/10/21: Rs. 5,00,000

Rate of Interest = 12 % p.a.

Out of the following statements, which are correct?

(A) In the absence of partnership deed, no partner is entitled to get salary or other remuneration.

(B) If a partner withdraws fixed amount at the end of each month for the whole year, then interest on drawings will be calculated for an average period of 5.5 months.

(C) If the partnership deed provides for interest on capital but the firm does not have sufficient profit, then the interest on capital will be paid to the extent of availble profit in the ratio of interest on capital.

(D) If a partner is admitted into a firm with a guarantee of certain profit, then the deficiency of profit (if any) shall be borne by the old partners in their capital ratio.

Gitansh withdrew Rs. 5000 pm at the end of every month for ten months. Interest on drawing is charged @ 10% p.a. Gitansh's interest on drawings is :

M and N are partners in a firm and agree that an interest @12% per annum should be charged on drawings. M draws Rs. 20,000 per month at the beginning of each month. The amount of interest to be charged from M is:

Identify a characteristics not applicable in partnership

In case of Fixed Capital Account, Interest on Drawings are

What is the amount of profit to be credited to V's Capital account?