CUET Accountancy - A and B are partners without any partnership deed. B has given loan of Rs.2,00,000 to the firm on 1st July 2023. B claim interest on loan @ 10% p.a. How much interest on loan will be paid to B for the year ending on 31st March 2024. ? | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 2

Partnership

Medium

common

Rs 20,000

Rs 12,000

Rs 9,000

Rs 6,000

✅ Correct Option: 3

Related questions:

22 May Shift 2

In the case of fixed capital method, following two accounts are maintained.

3 June Shift 2

The Profit and Loss Appropriation Account is merely an extension of the Profit and Loss Account of the firm, which, among the following, is not shown in the Profit and Loss Appropriation Account?

4 June Shift 2

Which combination of statements is true about the fixed and fluctuating capital:

(A). Under the Fixed capital method, two separate accounts are maintained for each partner, viz., 'capital account' and 'current account'.

(B). Under the Fluctuating capital method, the balance of the capital account fluctuates from year to year.

(C). Under the Fixed capital method, drawings, salary, interest on capital etc. are posted (transferred) in the current accounts and not in the capital accounts.

(D). Under the Fixed capital method, the capital accounts always show a debit balance.

Choose the correct answer from the options given below:

CUET Accountancy 2025 22 May Shift 2 PYQs

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