CUET Accountancy - Amitabh and Babul are partners sharing profits in the ratio of 3:2, with capitals of Rs. 50,000 and Rs. 30,000 respectively. Interest on capital is agreed @ 6% p.a. Amitabh has also given a Loan on April 01, 2024 of Rs. 50,000 to the firm without any agreement. Calculate Interest on Amitabh's Loan assuming books are closing on 31st March, 2025. | PYQs + Solutions

CUET Accountancy 2025 4 June Shift 2

Partnership

Medium

common

Nil

Rs. 6,000

Rs. 1,500

Rs. 3,000

✅ Correct Option: 4

Related questions:

15 May Shift 2

Match List-I with List-II

Match the accounts with their purpose

List-I	List-II
(A) Profit and Loss adjustment A/c	(I) Changes in amount of capital
(B) Profit and loss appropriation A/c	(II) Generally no change in amount of capital
(C) Fixed capital A/c	(III) Errors and omissions found after preparation of final A/c
(D) Fluctuating capital method	(IV) Extention of Profit & loss A/c

Choose the correct answer from the options given below:

13 May Shift 1

Which statements are true about partnership:

(A) Each partner carrying on the business is the principal as well as the agent for all the other partners.

(B) Valid partnership can be formulated even without a written agreement between the partners.

(D) The maximum number of partners can be 50.

Choose the correct answer from the options given below:

31 May Shift 1

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

CUET Accountancy 2025 4 June Shift 2 PYQs