Rate of Interest on loan given by Sanjeev will be: Option 1: 8% P.A. Option 2: 10 % P.A. Option 3: NIL Option 4: 6 % P.A.

The answer is '6 % P.A.'. View full solution:

CUET Accountancy - Rate of Interest on loan given by Sanjeev will be: | PYQs + Solutions

CUET Accountancy 2022 20 Aug Shift 2

Partnership

Easy

8% P.A.

10 % P.A.

NIL

6 % P.A.

✅ Correct Option: 4

Related questions:

22 May Shift 2

Which of the following is not a feature of a partnership deed?

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If partnership deed is silent on the profit sharing ratio and other provisions: interest @_____ per annum is allowed on loans advanced by partners:

31 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Gaining Ratio	(I) New Share - old Share.
(B) Sacrificing Ratio	(II) Old Share - New Share.
(C) Admission of Partner	(III) Partner may be paid amount more that what has actually due to him for hidden goodwill share.
(D) Retirement of Partner	(IV) Partner may or may not bring his share of goodwill in cash.

Choose the correct answer from the options given below: