Question : A partner introduced additional capital of Rs.1,00,000 in the firm on 1 July, 2020. The interest on this additional capital received by him on 31st March, 2021 will be:
Option 1: Rs.3,000
Option 2: Rs.6,000
Option 3: Rs.10,000
Option 4: Nil
Answer (1)
21st Jan, 2024
Correct Answer: Nil
Solution : In the absence of any rate of interest on the capital introduced, a partner will not be allowed any interest on capital. Hence, the correct option is 4.
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