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Interest

In the absenc...

Question

In the absence of an agreement, Interest on the loan advanced by the partner to the firm is allowed at the rate of ________.

A

6 %

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B

5 %

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C

12 %

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D

9 %

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Solution

The correct option is A $6 %$
In the absence of an agreement, interest on the loan advanced by the partner to the firm is allowed at the rate of 6%.

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